Indian e-commerce startup Meesho doubles valuation to $4.9bn

TOKYO -- Indian e-commerce startup Meesho on Thursday said it raised $570 million from a group of investors in a funding round that valued the company at $4.9 billion.

It comes less than six months after its previous funding round, when it raised $300 million at a $2.1 billion valuation. The significant rise in its valuation highlights the growing interest in India's tech sector as regulatory uncertainty dents investor appetite in China.