ShopDeck Secures $8 Million in Series B Funding Led by Bessemer Venture Partners
- ByStartupStory | November 27, 2024
D2C enabler ShopDeck has raised $8 million in its Series B funding round, led by Bessemer Venture Partners, with participation from Elevation Capital, Venture Highway, and Chiratae Ventures. The Bengaluru-based startup, previously known as NuShop, offers full-stack services for direct-to-consumer (D2C) brands, focusing on optimizing profitability and operational efficiency.
ShopDeck’s parent company, Blitzscale Technology, initially launched WMall in 2018 as a value-first marketplace. However, the format faced challenges and was shut down by February 2022. Recognizing the growing demand for D2C enablement, Blitzscale pivoted to launch ShopDeck in July 2022, with a renewed focus on helping D2C sellers achieve profitability.
“While everyone competes to have the best storefront software, merchants care most about profitability. That’s why we focus on optimising their bottomline, across every aspect of the stack, no matter what. This is our core value proposition,” said Rishabh Verma, Co-founder of ShopDeck.
The startup enables D2C brands to optimize their operations by focusing on performance metrics and profitability. It helps merchants by gathering insights, implementing data-driven solutions, and managing logistics like shipping, storefronts, and marketing. These services allow merchants to concentrate on product development rather than operational hassles.
“So, we primarily operate in categories which are long tail in nature like fashion, footwear, home decor. Categories where assortment plays a bigger role in sort of making a purchase decision,” said Harmin Shah, Co-founder of ShopDeck.
The platform charges a 3% service fee along with GST, providing a cost-efficient solution for D2C brands. With over 1,000 partnered brands and an annualized sales enablement of $150 million, ShopDeck has a significant presence, particularly in Tier II and Tier III cities, which account for 70% of its sellers and 80% of its buyers.
ShopDeck plans to use the fresh funds to enhance its software capabilities and expand investments in artificial intelligence (AI) to further support its clients. As the D2C space grows increasingly competitive, ShopDeck’s approach aims to provide brands with the tools and insights necessary to drive profitability and sustainable growth.
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