Grocery and essentials focused social commerce startup DealShare has raised around $130 million in its Series E round that pushed the company into the coveted club of unicorns. This is the maiden round for DealShare in 2022.
DealShare has approved the allotment of 42983 series E CCPS to raise Rs 968.67 crore or close to $130 million, regulatory filings show. Tiger Global has invested $39.1 million in the round followed by Alpha Wave, Kora Investment, DF International Partners and Twenty Nine Capital Partners which put in $31.3 million, $27.4 million, $19.6 million and $11.7 million respectively.
As per Fintrackr’s estimates, DealShare has raised the fresh funds at a post money valuation of $1.62 billion. Its valuation has ballooned over 3.6X within seven months. It was valued at $455 million during its Series D round in July 2021. With this round, the company has raised $313 million in total funding until now.
Also, Read This: Mumbai-headquartered grocery-delivery startup Zepto Bags USD 60 million
According to Entrackr’s sources, DealShare is likely to raise more funds in this ongoing round and its valuation would go up accordingly.
Founded in 2018 by Vineet Rao, Sourjyendu Medda, Sankar Bora and Rajat Shikhar, DealShare offers grocery, essentials and home care products. The company targets middle- and lower-income groups through a community group buying model. The platform enables users in tier 2 and lower cities to purchase products at competitive prices through a network of micro-entrepreneurs in their community in local languages.
The startup sells grocery and household essential products through social media and messenger platforms like WhatsApp. Currently, it has a presence in 10 states and over 100 cities and is targeting to expand to 20 states and 300 cities and towns. The company claimed that it clocked about $700 million gross-revenue run rate in 2021.
Also, Read This: eCommerce Shipping Platform Shiprocket Bags USD 185 million In Its Series-E Round
