Companies

DealShare raises $11 million from Matrix Partners, Falcon Edge

Our Bureau Ahmedabad | Updated on October 11, 2019 Published on October 11, 2019

Jaipur-based social e-commerce start-up DealShare has raised $11 million (about ₹78 crore) through Series A and seed rounds of funding jointly from venture capital major Matrix Partners India and Falcon Edge Capital, among others.

The company operates in the e-commerce space with a business model targeted at middle-income and lower income groups in non-metro, Tier-2 and Tier-3 cities. DealShare sells grocery and household essential goods through social vitality model. The products are sourced directly from local manufacturers & suppliers and DealShare offers discount on every item on its list, with buyers being able to gain further price reductions when they engage in group buying with friends and family members.

The latest round also saw participation from partners of DST Global, Omidyar Network India and few leading angel investors, the company said.

The funds will be used for city expansion, developing artificial intelligence-based solutions and indigenous logistics network.

“We plan to expand to 100 cities by March. We will also increase use of AI to understand customer behaviour and provide better experience,” said Sourjyendu Medda, Chief Business Officer & Head of Sourcing.

Logistics infra

"To keep the cost of delivery low, we need to invest in logistics infrastructure. We are creating a network of small time local entrepreneurs, who can also be delivery partners to integrate our supply chain," he added.

Published on October 11, 2019
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