DealShare- A Social e-commerce platform that raised $144 million from Tiger Global and others
DealShare- Bengaluru based social e-commerce platform has raised $144 million in a Series D round led by Tiger Global and Co-led by WestBridge Capital, Z3Partners, and Alpha Wave, the startup stated on Thursday. Big names as DST Global, Matrix Partners India, and Alteria Capital also participated in the funding round.
The post-funding valuation of the startup after the latest round is $455 million. In the past seven months, this is the third time DealShare has raised the funding. Since its birth, DealShare has bagged $183 million.
“We believe India is a unique market with a highly diverse demographic and requires an indigenous model that is built based on first principles and differentiates itself from western and Chinese e-commerce models," said Vineet Rao, founder and chief executive officer, DealShare.
The capital raised will be used to enhance the user experience via AI-driven innovations and technologies, offering more personal and full-filled gamified experience.
DealShare mainly focuses on the community groups that buy essentials in tier 2 and 3 cities, the startup is planning to double its team to 1800 employees by the end of this year. Also, it is planning to expand its warehouses from 20 across five states to over 200 warehouses across 10 states till December.
“We will continue to add more innovative capabilities and services to serve a wider range of user needs. We will also invest in improving and scaling up our operations. We expect our footprint to increase from 20 warehouses in five states to over 200 warehouses across 10 states by the end of this year," added Rao.
