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Mukul Arora

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@mukularora

Early stage investor at @ElevCap
Bangalore linkedin.com/in/mukularora1 Joined July 2009
626 Following 8.7K Followers 1.8K Posts

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Mukul Arora Verified account @mukularora
Bharat Bhagya Vidhata. The shaper of India's destiny.

Our national anthem has carried these words for over a century. And in every era, India's builders have answered that call, and willed a stronger India into being.

Today we stand at the biggest platform shift of our lifetimes. The scoreboard is being reset, and every advantage is up for grabs. The opportunity in front of us has never been bigger; neither has the challenge.

We have zero doubt this generation of founders will step up. They always have. And this time, we will not just ride the shift; we will capitalize on it and propel India into a different orbit.

With that belief, we are excited to announce Elevation Fund IX - $500 million for audacious founders building an unstoppable India. Sharply focused on Seed and Series A. We will continue to partner early, partner deeply, and partner for the long run.

All in on India, as we have been for the last 25 years.

Jai Hind 🇮🇳

elevationcapital.com/perspectives/f…

@ElevCap
www.elevationcapital.com Elevation Fund IX: For Audacious Founders Building an Unstoppable India
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Mukul Arora Verified account @mukularora
In India, our constraints are often our biggest opportunities.

While most of e-commerce companies were focused on increasing average order values, Meesho went the other way - building a platform that can profitably serve customers at an AOV of just ₹260.

And as a result, e-commerce is finally beginning to reach population scale in India… 284 mn transacting customers, growing over 20% y-o-y… 

And we’re still just scratching the surface!
Vidit Aatrey Verified account @viditaatrey Oct 28
India's e-commerce market has far more room to grow, and our Q2 FY27 performance continues to reinforce that conviction.

Annual Transacting Users grew 21% YoY to 284 million, with purchase frequency increasing to 10.4 transactions per user annually. What's encouraging is that even as first-time buyers grew 16% quarter-on-quarter, existing consumers continued shopping more frequently.

This momentum extended into the festive season, with NMV growing 33% year-on-year on a festive-aligned basis, measured over the 90 days preceding Dussehra.

But growth isn't just about how many people shop. It's also about what they discover and buy.

Meesho Mall grew 81% YoY, as shoppers in smaller towns increasingly moved beyond everyday essentials to products like face serums, sunscreens and conditioners. Content Commerce NMV grew 160%, as more consumers discovered products through creators they trust.

These shifts reinforce something we've believed for a decade: every time we make e-commerce more accessible and relevant, the market continues to expand.

We're still early in this journey, and our focus remains on building the technology infrastructure to drive that expansion.

For a closer look at the quarter, we've shared a snapshot of key metrics below, a short video walking through the highlights, and the detailed Shareholder Letter on our Investor Relations website: static-assets.meesho.com/investor-relat…
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Mukul Arora Verified account @mukularora
Every time I have a conversation with @viditaatrey, I end up learning something new. It comes from how comfortable he is sharing the real learnings - his thinking behind a bunch of decisions, his frameworks, lived experiences, what worked and what did not...

That is exactly why I am really looking forward to this conversation, and to drawing out many of those insights that will be helpful for founders and aspiring founders.

If you are a YC alum, do come join us - 2nd July, 5 30 pm onwards.

Register here - luma.com/EveningwithYCA…
luma.com Meesho x Elevation Capital: An evening with YC Alumni · Luma Elevation Capital and Meesho are hosting an evening for the YC ecosystem in Bangalore. We'll sit down with Vidit Aatrey for a candid fireside on building…
Vidit Aatrey Verified account @viditaatrey Jun 26
Hosting YC alumni founders at the @Meesho_Official office in Bangalore on July 2nd and genuinely looking forward to this one.

@mukularora and I are doing a fireside together. We've known each other a long time and he has a way of asking the questions that actually matter, so I'm expecting it to be a genuinely candid conversation.

We'll talk about how Meesho came together, the bets that paid off, the ones that didn't, and what building for Bharat actually looks like from the inside.

If you're a YC alumni founder, come join us. Fireside starts at 6:30, followed by dinner.

Register here: luma.com/EveningwithYCA…
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Mukul Arora Verified account @mukularora
When we first invested in Snabbit, it was live only in Powai. Every time I described it to friends elsewhere, their immediate question was always: “When is this coming here?”

In hindsight, the insight feels obvious. But it took an India-first, customer-backwards lens to see it… and exceptional execution to bring it to life.

What’s stood out since is the speed of adoption amongst consumers and experts.

Snabbit is on track to become a household name, bringing convenience to consumers across multiple services and more importantly unlocking better livelihood for experts.

Really fortunate to have had a ringside view to witness @Aa_Agarwl and team @just_snabbit creating a new category! 🙌🙌

@ElevCap @manishadvani12
Aayush Agarwal Verified account @Aa_Agarwl Apr 28
247 metres.

The median distance our Experts travel between two jobs.

The single number that explains why Snabbit just closed its $56M Series D, taking total capital raised to $112M in two years.

This fundraise is a mandate, not a milestone. Heads down. Back to work.
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Mukul Arora Verified account @mukularora
Yes @viditaatrey your friendship has been the most rewarding part of this entire journey…

Looking forward to many more conversations, padel matches, runs and holidays together!
Vidit Aatrey Verified account @viditaatrey Dec 10, 2025
Mukul has played many roles for Meesho and me over the years. Our first institutional investor, my first mentor, solid pillar in the good and the bad times.
But the one I cherish the most is our friendship.

@mukularora, thanks for everything!
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