Two months after its seed round announcement, Singapore-based startup Upmesh has raised a $7.5 million pre-Series A round led by Monk’s Hill Ventures. The new funding brings its total raised so far to $10.5 million.
Upmesh will use the pre-Series A funding to expand its regional presence in Southeast Asia and launch its first Instagram live selling app and backend automation features like logistics automation. It also plans to double down on its live commerce products.
Since its seed round, Upmesh has nearly doubled its online merchants in less than three months with a growing merchant base by 30% month on month. In October, Upmesh was used by almost 300 live commerce merchants in Singapore, Malaysia and the Philippines, with an annualized gross merchandise value of $40 million.
Upmesh’s tool helps merchants grow sales through analytics to identify their best-selling product items and patterns in buying behaviors. Its tool also provid …
