E commerce start up DealShare expects to hit $1 Bn revenue in near term
- ByStartupStory | January 29, 2022
DealShare was discovered by Vineet Rao, Sourjyendu Medda, Sankar Bora, and Rajat Shikhar.
Three year old, social e commerce start up DealShare on Friday night said that it has combined $ 165 million in the first close of its series E fund rise, at an estimation of $ 1.65 billions, making it the latest entrant to India’s coveted unicorns club.
The company felicitated Dragoneer Investment Group, Kora capital and Unilever Ventures, along with continued commitments from existing investors Tiger Global and Alpha Wave Global (falcon Edge)
The company has been emerging its consumer and revenue base dynamically and anticipates to hit $ 1 billion revenues in the near term.
The funds raised in the round will be employed to invest in technology and data science, as well as a ten-fold expansion in its logistics infrastructure and to increase geographic reach.
Additionally, it will innovate a sizable offline store franchise network.
The funding is also expected to help the firm compete with other social commerce players such as Soft- bank- backed Meesho, Bulbul, Glow road, Mall 91 and simsin and flipkarts social commerce platform Shopsy.” DealShare is one of the fastest emerging e- commerce companies in India.
Our revenues and customer base have emerged 13 times in the last year with enriching beneficent.” Said Vineet Rao founder and CEO of DealShare.
“With a strong customer base of over 10 million, we have expanded our geographical presence to over 100 cities across 10 states.
Our company has invoked job opportunities for over 5,000 persons across the country.”
In July, last years, Deal share, which has built an e-commerce platform for middle- lower- income groups of consumers in India, raised $ 144 million in its lastest funding round, led by Tiger global.
The firm is known for constituting the CGB ( Community buying group) model in India.
The funding had taken the valuation of the firm to $ 455 million.
DealShare said it has potbellied a new disturbed retail model for India visioning on affordability for mass consumers.
It attempts estimable, and reasonable basics intermingled with a gamified, fun- filled, and vitality- driven shopping experience online shopping.
“ We have created a network of over 1, 000 community leaders under our flagship program Deal share Dost facilitating an effective and highly scalable supply chain,” said Rao.
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