iWorld
Meesho raises $300 million in fresh funding
KOLKATA: Social commerce platform Meesho has raised $300 million in a new round of funding led by SoftBank Vision Fund 2. The latest investment values Meesho at $2.1 billion.
The start-up will use the new fund raise to strengthen its talent pool across verticals — tech, product, and business, among others. It saw participation from existing investors — Prosus Ventures, Facebook, Shunwei Capital, Venture Highway and Knollwood Investment.
SoftBank Investment Advisers managing partners Munish Varma said, “Globally, SoftBank has always been excited to back founders that provide unique solutions for the local market. By using the power of artificial intelligence and machine learning, Meesho has created a platform for many small business owners to sell to the next cohort of internet users. We look forward to being a part of this journey.”
Meesho aims to simplify e-commerce for all small businesses in India. It will help the company to build a platform which is pro-small businesses with policies and tools to help even the smallest of sellers to list and do business on Meesho. This will empower small business owners to reach customers through all online channels.
In the past year, the platform has seen tremendous growth across small businesses and entrepreneurs seeking to move their businesses online, Meesho founder and CEO Vidit Aatrey said.
“With the new round of funding, we are extremely thrilled to have SoftBank onboard. We are focused on expanding our vision — from helping aspiring women entrepreneurs to creating Meesho as a single ecosystem that will enable all small businesses in India to succeed online,” he added.
Over the last six years, Meesho has successfully enabled over 13 million individual entrepreneurs to start their own online businesses with zero investment, bringing the benefits of e-commerce to more than 45 million customers in the country. Till date the company has delivered orders from 100K+ registered suppliers to over 26,000 pin codes in more than 4,800 cities, generating over 500 crore in income for individual entrepreneurs and serving customers in more than 4,500 tier-2 cities and beyond.
iWorld
Diljit Dosanjh’s Dil-Luminati tour generates Rs 943 crore impact
EY report says 14 concerts across 13 cities sparked jobs, tourism and spending
MUMBAI: What began as a music tour quickly turned into an economic crescendo. The India leg of Diljit Dosanjh’s Dil-Luminati tour has generated a measurable economic impact of nearly Rs 943 crore, according to a socio-economic impact report prepared by EY.
Spread across two months in late 2024, the tour travelled through 13 cities with 14 performances, drawing more than 3.2 lakh fans and selling out shows in roughly 10 minutes on average.
The concerts began in New Delhi on October 26 and wrapped up with a New Year’s Eve finale in Ludhiana, the singer’s hometown. In between, the Punjabi superstar turned stages across cities such as Mumbai, Bengaluru, Hyderabad, Kolkata and Guwahati into high-energy gatherings where music, fandom and travel blended into a nationwide spectacle.
According to the EY analysis, the tour generated Rs 276 crore in direct revenue for organisers through ticket sales, sponsorships and food and beverage spending at venues. Indirect spending by fans pushed the economic ripple effect even further, contributing an estimated Rs 553 crore through travel, accommodation, tourism and shopping.
Government revenues added another Rs 114 crore, including Rs 111 crore in GST and around Rs 2.5 crore in local permissions and fees.
Ticket sales were the main driver, accounting for about 80 per cent of direct revenue, with prices ranging from Rs 2,499 for silver tickets to as much as Rs 60,000 for premium lounge access. The gold category emerged as the most popular, generating more than half of the ticketing revenue.
The concerts were not just local gatherings. Nearly 38 per cent of attendees travelled from other cities to catch the shows, turning the tour into a travel magnet. Many extended their trips by two to three days, boosting hotel stays, dining and tourism activities in host cities.
Air and rail travel together accounted for around 70 per cent of inter-city travel costs linked to the concerts, while nearly half of travelling fans stayed with friends or family.
Cities hosting the tour also saw noticeable spikes in travel bookings. Flight bookings to Chandigarh, for instance, rose by about 300 per cent year on year around the concert dates, while cities such as Delhi, Ahmedabad and Indore saw booking growth of roughly 100 per cent.
Beyond the stage lights and thumping speakers, the tour also created a significant employment surge. The report estimates that more than 118,000 man-days of work were generated, including about 69,000 direct man-days and over 48,000 indirect man-days across sectors such as security, logistics, hospitality and technical production.
Security, safety and crowd management alone accounted for roughly half of the direct employment created during the concerts, reflecting the scale of operations required to stage such large events.
More than 15 brands partnered with the tour, turning concerts into a playground for creative marketing. From themed merchandise drops to experiential campaigns and exclusive ticket access deals, companies tapped into the singer’s massive fan base to amplify their reach.
The official ticketing platform recorded over 62.5 lakh visitors during the sales window and processed more than 1.2 lakh ticket orders, underscoring the intense demand for live events anchored by home-grown artists.
The tour also doubled as a cultural roadshow. At each stop, Dosanjh embraced local traditions, sampled regional cuisine and showcased India’s diversity through his social media posts and stage interactions, turning concert stops into mini travel diaries.
For the wider entertainment industry, the Dil-Luminati tour is being seen as a marker of how large-scale live concerts can drive economic activity well beyond the stage. The report suggests that India’s live music sector could grow rapidly in the coming years as demand for large events continues to surge.
In other words, the Dil-Luminati tour did more than fill stadiums. It moved crowds, boosted city economies and showed that when live music hits the right note, the ripple travels far beyond the final encore.
