The seed funding round for the e-commerce company Meolaa was led by Turbostart and was a total of $2 million. The company that hosts environmentally friendly consumer goods on its platform is targeting Generation Z customers in particular.
In order to prepare the staff for the next phase of growth, the company intends to use the additional funds. The amount of funds raised by Meolaa in a generally sluggish fundraising environment highlights sufficient investor interest in early-stage startups.
“We plan to deploy these funds towards building our team for our next stage of growth, establishing Meolaa as a platform for sustainable consumer products,” said Ishita Sawant, Founder & CEO, Meolaa.
“What truly sets Meolaa apart and what makes us believe in the brand is its unwavering commitment to sustainability, aligning perfectly with the growing global demand for eco-conscious businesses. Current trends show that Generation Z prioritizes sustainable buying decisions over brand names, making a compelling case for the platform’s potential”, said Ganesh Raju, founder at Turbostart.
Beyond financial support, Turbostartis strategically poised to aid Meolaa’s global expansion, with a specific emphasis on regions including the Middle East & Africa, the United States, and Singapore, he added.
Meolaa is a purpose-driven e-commerce platform that is designed to meet the needs and preferences of next-generation shoppers. The platform offers a wide range of sustainable, high-quality products from a variety of purpose-driven brands, as well as a variety of interactive experiences.