Grocery and essentials focused social commerce startup DealShare has raised around $130 million in its Series E round from Tiger Global Management, Alpha Wave Global and others, turning the company into a unicorn.
DealShare has raised the fresh funds at a valuation of $1.62 billion, mounting its valuation over 3.6X within seven months. The company will be using the funds for its growth and expansion. The company becomes the second social commerce unicorn in India after Meesho.
Tiger Global invested almost $40 million while Alpha Wave Ventures invested more than $31 million. Other investors include Kora Investment, DF International Partners and 29 Capital Partners. With this round, the company has raised a total of $313 million so far.
DealShare offers grocery, essentials and home care products and targets middle and lower-income groups through a community group buying model. The company is also planning to invest in expanding its operational capacity and technology to support growth.
It is an inventory-led platform that manages the supply chain and logistics in bigger cities, currently with a presence in 10 states and over 100 cities and is targeting to expand to 20 states and 300 cities and towns.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
