Bengaluru headquartered social e-commerce startup DealShare has raised $21 million in Series C round of funding led by WestBridge Capital.

Alpha Wave Incubation - a venture fund managed by Falcon Edge Capital, Z3Partners and existing investors Matrix Partners India and Omidyar Network India also participated in the round.

Additionally, several independent investors too participated in this round of funding.

Co-founders Vineet Rao, Sourjyendu Medda, Sankar Bora and Rajat Shikhar brought together their

expertise and experience to establish DealShare in Sep 2018. The B2C hyperlocal e-retail business follows a social e-commerce model that mostly targets non-metro and middle-income customers in India with mass-market products.

The company in currently operational in Jaipur, Kota, Ajmer, Sikar, Ahmedabad, Surat, Vadodara, Jodhpur, Bikaner, Sawai Madhopur and many more cities to come.

The fresh infusion of capital within DealShare will be leveraged by the company to power its next phase of growth which will include expanding to newer geographies, penetrating deeper into current markets, scaling operations, expanding local sourcing networks, and strengthening its technology platform across business verticals. “With this round of investment, we will augment our brand presence across existing and new markets.

Over the next one year, we are targeting to increase our footprint to 100 cities and towns across five states. Along with this, we will increase our customer base to one crore.

This investment will take us to an annual GMV of Rs 2,500 crore,” said Sourjyendu Medda, Founder & Chief Business Officer, DealShare.