Hyperlocal E-Commerce Startup DealShare raises Rs 70 crore from Alteria Capital & Others
Jaipur and Bengaluru-based hyperlocal e-commerce startup DealShare has raised Rs 70 crore from venture debt firm Alteria Capital after raising $21 Million in Series C round led by WestBridge Capital. The startup is focused on the mid-income demographic of 500 million new Internet users and has raised total capital of $34 Million. It uses the new capital for market expansion as well as marketing purposes.
The round also saw the participation of Alpha Wave Incubation - a venture fund managed by Falcon Edge Capital, Z3Partners, and existing investors Matrix Partners India and Omidyar Network India. Several independent investors too participated in this round of funding.
DealShare was established by Vineet Rao, Sourjyendu Medda, Sankar Bora, Rishav Dev, and Rajat Shikhar in 2018. The Jaipur-headquartered startup sells grocery and household essential products through social media and messenger platforms like WhatsApp. The product catalogue includes fruits & vegetables, grocery items, beauty & wellness, baby care, pet care, fashion accessories, electronics, home décor, etc.
“We have seen tremendous growth in the last few years as we marched forward in our mission to cater to 500 million new-to-internet users. We are very happy to partner with Alteria Capital as they share a common vision and this capital will help us boost our progress in the right direction,” says, Sourjyendu Medda, Co-founder, DealShare.
The team is now focusing on the next step of its expansion, which will include expanding into new geographies, reaching deeper into existing markets, scaling operations, expanding local sourcing networks, and bolstering its technology platform across business verticals.
“We believe DealShare is poised well to play a pivotal role in bringing e-commerce to the masses in India to serve their recurring shopping needs. The company also empowers regional brands to participate in the e-commerce revolution and connect directly to the end consumer. We are very excited to partner with the team as they unlock their next phase of growth,” said Ankit Agarwal, Partner, Alteria Capital.
Alteria Capital is India's largest venture debt provider, with two funds totaling Rs 2,300 crore. For its second venture debt fund, it recently received Rs 1,325 crore in commitments from domestic investors.
Rebel Foods, BharatPe, Lendingkart, ZestMoney, Dunzo, Portea, Toppr, Spinny, Stanza, Vogo, Melorra, Mfine, Generico, Loadshare, and many others are among Alteria's investors. Alteria claims it will have over Rs 4,000 crore in venture debt and structured solutions available to finance startups.
According to media reports, Tiger Global is in talks to lead a $100 Million funding round in DealShare soon, taking the total raised capital to $134 Million. The Series D round, if it happens, will put DealShare in an elite company as far as the Tiger Global portfolio is concerned.
The round also saw the participation of Alpha Wave Incubation - a venture fund managed by Falcon Edge Capital, Z3Partners, and existing investors Matrix Partners India and Omidyar Network India. Several independent investors too participated in this round of funding.
DealShare was established by Vineet Rao, Sourjyendu Medda, Sankar Bora, Rishav Dev, and Rajat Shikhar in 2018. The Jaipur-headquartered startup sells grocery and household essential products through social media and messenger platforms like WhatsApp. The product catalogue includes fruits & vegetables, grocery items, beauty & wellness, baby care, pet care, fashion accessories, electronics, home décor, etc.
“We have seen tremendous growth in the last few years as we marched forward in our mission to cater to 500 million new-to-internet users. We are very happy to partner with Alteria Capital as they share a common vision and this capital will help us boost our progress in the right direction,” says, Sourjyendu Medda, Co-founder, DealShare.
The team is now focusing on the next step of its expansion, which will include expanding into new geographies, reaching deeper into existing markets, scaling operations, expanding local sourcing networks, and bolstering its technology platform across business verticals.
“We believe DealShare is poised well to play a pivotal role in bringing e-commerce to the masses in India to serve their recurring shopping needs. The company also empowers regional brands to participate in the e-commerce revolution and connect directly to the end consumer. We are very excited to partner with the team as they unlock their next phase of growth,” said Ankit Agarwal, Partner, Alteria Capital.
Alteria Capital is India's largest venture debt provider, with two funds totaling Rs 2,300 crore. For its second venture debt fund, it recently received Rs 1,325 crore in commitments from domestic investors.
Rebel Foods, BharatPe, Lendingkart, ZestMoney, Dunzo, Portea, Toppr, Spinny, Stanza, Vogo, Melorra, Mfine, Generico, Loadshare, and many others are among Alteria's investors. Alteria claims it will have over Rs 4,000 crore in venture debt and structured solutions available to finance startups.
According to media reports, Tiger Global is in talks to lead a $100 Million funding round in DealShare soon, taking the total raised capital to $134 Million. The Series D round, if it happens, will put DealShare in an elite company as far as the Tiger Global portfolio is concerned.
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