DealShare raises $165 mn in funding
The company has been growing its consumer and revenue base strongly and expects to hit $1bn revenues
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Hyderabad: DealShare, a social e-commerce startup, announced that it has raised $165 million in the first close of its Series E fundraise. The company welcomed Dragoneer Investments Group, Kora Capital and Unilever Ventures, along with continued commitments from existing investors Tiger Global and Alpha Wave Global.
The company has been growing its consumer and revenue base strongly and expects to hit $1bn revenue in the near term. The funds raised in this round will be utilised to invest in technology, data science and a ten-fold expansion in its logistics infrastructure and to increase geographic reach. It will also establish a sizable offline store franchise network.
DealShare has built a new disruptive retail model for India focusing on affordability for mass consumers. It offers high-quality, low-priced essentials coupled with a gamified, fun-filled, and virality-driven shopping experience, making it easy for first-time internet users to experience online shopping.
Vineet Rao, Founder and CEO of DealShare, said: "Our revenues and customer base have grown 13 times in the last year with improving profitability. With a strong customer base of over 10 million, we have expanded our presence to over 100 cities across 10 States.
