Upmesh, a Singapore-based startup, has raised $7.5 million in a pre-Series A round. So far, it has raised $10.5 million.
Upmesh will use the pre-Series A funding to expand its regional presence in Southeast Asia and to launch its first live selling app on social media. Live commerce products will be doubled down.
Upmesh has doubled its online merchants in less than three months with a growing merchant base. In October, Upmesh was used by almost 300 live commerce merchants in Singapore, Malaysia and the Philippines with an annual gross merchandise value of over 40 million dollars.
Upmesh helps merchants grow their sales by helping them identify their best-selling product items and buying behaviors. The tool provides e- commerce functions that automatically capture orders made in livestream comments and send a checkout link to buyers. Social media platforms like Facebook Live andInstagram Live are where sellers go live.
Upmesh competes with e-Commerce platforms like Shopee and Lazada, but the company offers live commerce on social media that attract more buyers and audience and provide automation to help customers grow their business, said Wong Zi Yang, CEO and co-founder of Upmesh.
Companies and brands need to watch livestream e- commerce.
In October, Wong said that Upmesh tailors its order capturing tools to meet the expectations of sellers and buyers in different Southeast Asia countries.
Upmesh is an image.
Upmesh users range from mom-and-pop street shops selling on live streams to specialized live commerce sellers moving thousands of stock-keeping units.
Live commerce is changing the buying behavior of the digital consumer in Southeast Asia. Upmesh provides a full technology and service stack to enable live commerce, but it is even more important to enable small and medium sellers at scale. The needs of small and medium sellers from the fastest-growing segment are unmet. The co-founder and managing partner of Monk's Hill said that Upmesh is focused on meeting their needs.
We are happy to join forces with Monk's Hill. Wong said that they are united in their belief that community is the next frontier for online commerce and live commerce is the ideal medium for bringing community and commerce together.
The Southeast Asia e-commerce business got a new CEO.
Upmesh wants to build a discovery app for Southeast Asian live commerce.
