Social Commerce Startup DealShare Raises $144 million From Tiger Global
Social eCommerce startup DealShare announced that it has raised $144 million in a Series D round, led by Tiger Global in its third fund-raise in the last seven months. The latest funding round was led by WestBridge Capital, Alpha Wave Incubation (a venture fund backed by ADQ, and managed by Falcon Edge Capital) and Z3Partners. […]
Topics
Social eCommerce startup DealShare announced that it has raised $144 million in a Series D round, led by Tiger Global in its third fund-raise in the last seven months. The latest funding round was led by WestBridge Capital, Alpha Wave Incubation (a venture fund backed by ADQ, and managed by Falcon Edge Capital) and Z3Partners. Partners of DST Global, Matrix Partners India and Alteria Capital participated in the round. With the current round, the total funding raised by DealShare, which was founded in 2018, stands at $183 million, with its valuation pegged at $455 million post-funding.
Also Read: Seasoning the Sale with Martech
The company will also expand internationally, starting with the UAE and is establishing its first base in Abu Dhabi.
Vineet Rao, CEO and founder, DealShare said the funds would be utilized to invest in AI-driven innovations in its user experience, leading to a highly personalised, fun-filled and gamified experience. Rao said, “Our monthly active users already use our app over 40 times a month making it the most engaging eCommerce app and 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 rapidly. We expect our footprint to increase the from current 20 warehouses across 5 states to over 200 warehouses across 10 states by the end of this year.”
Avendus was the exclusive financial advisor for this transaction.
“We are excited to partner with DealShare as they grow the Indian eCommerce market. DealShare’s unique approach combines discovery-led social sharing, group buying, and a gamified shopping experience with a simple consumer interface. They are well-positioned to power the next wave of Indian eCommerce growth,” said Griffin Schroeder, partner at Tiger Global.
Navroz Udwadia, co-founder and CEO, Falcon Edge Capital said DealShare is a business that expects to break even in the next 12 months.
