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Social e-commerce unicorn DealShare gets $45 mn from ADIA, aims to reach $3 bn gross revenue run-rate in 12 months

Social e-commerce unicorn DealShare gets $45 mn from ADIA, aims to reach $3 bn gross revenue run-rate in 12 months

By Aishwarya Anand   IST (Updated)

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The firm had turned unicorn last month after bagging $165 million in the first close of its Series E fundraise from Dragoneer Investments Group, Kora Capital, Unilever Ventures, and existing commitments investors, Tiger Global and Alpha Wave Global (Falcon Edge). This brings the total amount fund raised by the company to $393 million.

Social e-commerce startup DealShare has raised another $45 million as part of its S eries E funding round from Abu Dhabi Investment Authority (ADIA), at a valuation of $1.7 billion. Avendus Capital acted as the exclusive financial advisor in the transaction.
The firm had turned unicorn last month after bagging $165 million in the first close of its Series E fundraise from Dragoneer Investments Group, Kora Capital, Unilever Ventures, and existing commitments investors, Tiger Global and Alpha Wave Global (Falcon Edge). This brings the total amount fund raised by the company to $393 million.
The startup will use the funds to power product innovation and technology to support its rapid growth and expanding customer base.
"We will be utilising the funds from our Series E round to strengthen our customer base and technology capabilities. We aim to democratise online shopping for Bharat users with unmatched service and experience by developing innovative products and tech solutions. This will be supported by building our teams across the country and hiring new tech talent at all levels.” said Vineet Rao, Founder and CEO, DealShare.
Talking about the expansion plan, Rao added “There is an immense opportunity for our business outside India as well, and we would be exploring international expansion in the coming years.”
The firm said it is close to hitting $1 billion of gross revenue run-rate with just 3 years in operation. It is now aiming to touch $3 billion in gross revenue run rate in the next 12 months.
“We will be tripling our geographical presence, investing heavily on acquiring topnotch tech talent, and building world-class supply-chain infrastructure to aid this growth along with continued focus on capital efficiency and path to profitability. We are targeting operational profitability by the end of this year,” said Sourjyendu Medda, Founder and CBO.
Founded in 2018, DealShare sells daily essentials and targets middle-income households through a community group buying model. It is currently catering to over 10 million customers and is present over 100 cities across 10 states. DealShare is the second social commerce unicorn in India after Meesho.
According to a report titled ‘The Future of Commerce in India – the rise of social commerce’ by Bain & Company in partnership with Sequoia India, social commerce, which is a $1.5 billion to $2 billion market today, will be worth as much as $20 billion in just five years. It will likely hit nearly $70 billion by 2030.
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