Bangalore-based startup, DealShare has secured Rs 25 crore debt funding. With this, the e-commerce startup has raised Rs 267 crore in total.
Vineet Rao, CEO and founder at DealShare, said, “DealShare has always been motivated towards bringing the e-commerce experience to the masses, especially the low and mid-income population. Since our inception, our vision has been to address the shopping needs of the 500 million new-to-internet users by providing them with best quality products at affordable prices.”
He further added, “Using technology, we want to provide them with a fun-filled and gamified shopping experience, and this fundraising will give us the much needed boost to progress in that direction. We will be utilising the funds and Innoven Capital’s expertise to exponentially scale our geographic footprint. We are planning to scale our presence to 100 cities by the end of 2021.”
Previously, the firm has secured $21 million in Series C funding round. This round was led by WestBridge Capital, Falcon Edge Capital-managed Alpha Wave Incubation – a venture fund, Z3Partners, along with participation from existing investors Matrix Partners India and Omidyar Network India.
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