DealShare has raised $21 Mn in Series C funding led by WestBridge Capital. The round also saw participation from Alpha Wave Incubation - a venture fund managed by Falcon Edge Capital, Z3Partners, and existing investors Matrix Partners India and Omidyar Network India.
DealShare has built a differentiated e-commerce model that targets middle and lower income groups of over 500 million new-to-internet users. It procures products from local manufacturers and provides them with a platform to digitize their business and compete with leading national brands. At present, it has partnered with 1,000 brands of which 70 % are local and regional brands.
“With this round of investment, we will augment our brand presence across existing and new markets. Over the next one year, we are targeting to increase our footprint to 100 cities and towns across five states. Along with this, we will increase our customer base to one crore. This investment will take us to an annual GMV of Rs 2,500 crore,” added Sourjyendu Medda, Founder and Chief Business Officer, DealShare.