India-based DealShare, an online marketplace with a wide range of affordable, high-quality consumer products available for mass consumption, raised USD 165 million on 29th January 2022.
Investors: The investment round was led by Dragoneer Investments Group, Kora Capital, and Unilever Ventures. Additionally, existing investors Tiger Global and Alpha Wave Global participated in the round. The startup has a valuation of more than USD 1.65 billion at present. The startup has raised funds from some major institutions in its previous rounds as well.
Purpose of funding: The startup will use the funding to expand its logistics infrastructure tenfold and invest in technology and data science. Additionally, the company plans to extend its geographic reach through an agile business model- and establish a large number of offline store franchises. A significant emphasis is placed on competing with SoftBank-backed Meesho, BulBul, GlowRoad, Mall91, and Flipkart’s Shopsy social commerce platform.
About DealShare
Founded in 2018 by Rajat Shikhar, Sankar Bora, Sourjyendu Medda, and Vineet Rao, DealShare is located in Bangalore, India. DealShare is an online marketplace with a wide range of affordable, high-quality consumer products available for mass consumption. Its mission is to reach the new 500 million users from non-metropolitan and rural areas who have little experience shopping online and are uncertain of other options. The majority of these users are on social media and mobile devices. Hence, the startup enables these users to purchase in just a few clicks. The startup also allows customers to share deals with friends. This will enable them to get discounts depending on how many people purchase the product. Utilizing social virality to aggregate demand for mass-market products will significantly reduce operational costs.
What the founders have to say
“DealShare is one of the fastest-growing e-commerce companies in India. Our revenues and customer base have grown 13 times in the last year with improving profitability,” said Vineet Rao, founder and CEO at DealShare.
“With a strong customer base of over 10 million, we have expanded our geographical presence to over 100 cities across ten states. Our company has created job opportunities for over 5,000 persons across the country.”
“This year, we will be expanding our presence to well over 200 cities across 20 states and are setting an audacious goal to increase our annual revenue run rate to $3 billion while becoming operationally profitable,” said Sourjyendu Medda, co-founder at DealShare.
“We also aim to add close to 50 million new consumers in the next 12 months. The majority of our consumers are first to e-commerce because of us. Not only are we spearheading e-commerce adoption in the country, but we are also doing that with ‘Atmanirbhar Bharat’ as the key focus.”
What the investor has to say
“DealShare is growing rapidly and has built an impressive customer base with a strong leadership team executing on its innovative social commerce strategy. As it expands into Tier II and III cities, DealShare is well-positioned to power a new wave of e-commerce growth in India,” said Griffin Schroeder, Partner at Tiger Global.
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