Upmesh closes $7.5M pre-Series A, launches its livestream shopping app for merchants

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two months after seed round Announcement, a Singapore-based startup Upmesh has raised a $7.7 million pre-Series A round led by Monks Hill Ventures. The new funding has raised the total raised so far to $10.5 million.

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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 such as logistics automation. It is also planning to double down on its live commerce products.

Since its seed round, Upmesh has almost doubled its online merchants in less than three months, with a 30% month-on-month increase. In October, Unmesh was used by approximately 300 live commerce merchants in Singapore, Malaysia and the Philippines, with an annual gross trading value of $40 million.

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Upmesh’s tool helps merchants increase sales through analytics to identify patterns in their best-selling product items and buying behavior. Its tool also offers e-commerce functions that automatically capture orders placed in livestream comments and send checkout links to buyers. At the same time, sellers go live on social media platforms like Facebook Live and Instagram Live.

Upmesh competes with e-commerce platforms like Shopee and Lazada and with SaaS tools including Shopline, but the company offers live commerce on social media that attracts more buyers and viewers and helps customers grow their business. Wong Zi Yang, CEO and Co-Founder of Upmesh.

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Upmesh also tailors its order capturing tools to meet the expectations of sellers and buyers in various Southeast Asia countries, unlike other companies that provide order-capturing tools for live commerce such as CommentSold and Dibsly, Wong said. Said in October.

image credit: Upmesh

Upmesh users complement foot traffic from mom-and-pop street shops selling on live streams to specialty live commerce sellers moving thousands of stock-keeping units (SKUs).

“Live commerce is transforming eCommerce and shaping digital consumer shopping behavior in Southeast Asia. While UpMesh provides a complete technology and service stack to enable live commerce, it is even more important to enable small and medium sellers at scale. Small and medium sellers are the fastest growing segment in eCommerce and their needs are largely unmet. Upmesh is focused on meeting their needs,” said Kuo-Yi Lim, Co-Founder and Managing Partner of Upmesh.

“We are delighted to partner with Monks Hill Ventures in our mission to transform eCommerce. We are united in our shared belief that community is the next frontier for eCommerce, and live commerce is the ideal medium to connect community and commerce together,” Wong said.

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