Funding News

DealShare raises INR 204 Cr in Extended Series C Round

Social commerce major DealShare has raised Rs 204 Cr in extended series C round, according to regulatory filings filed by the company. Existing investor Alpha Wave Incubation has spearhead the series C1 round while other existing investors WestBridge and Matrix Partner have also participated in the round.

DealShare’s co-founding team

As per the regulatory filings, DealShare has allotted 45,283 CCPS to investors raise nearly INR 204 crore. Alpha Wave has made maximum contribution to this tranche with Rs 113 Crore and has been allotted 24,866 convertible preference shares. Westbridge has pumped Rs 73 Cr and Matrix Partner has contributed 6.74 cr.

Navroz Udwadia, Co-founder of Falcon Edge Capital, have also contributed to this round.

DealShare had raised approximately Rs 141 Cr when it kick started the series C round in December 2020. The period between Series C and Series C1 round was punctuated with two back-to-back debt funding, with Innoven Capital and Alteria Capital pumping Rs 25 Cr and 70 Cr respectively in the company.

The Jaipur based company has raised nearly Rs 440 Cr  in the span of 4 months, giving the company a good cash flow. However, the Social commerce major is apparently not done yet with the fund raising spree as the company is reportedly in talks with VC giant Tiger Global to acquire more investment. Grapevines have been suggesting that DealShare is in talks with Tiger Global to raise a massive funding round.

The company made a loss of Rs 30 Cr in Fy20, with its total revenue standing at Rs 58 Cr, an increase of 14x from FY19 when it earned a revenue of merely Rs 4 cr. However, its increase in revenue was accompanied by proportional increase in expenses, with its total expenses standing at Rs 88 Cr in Fy20 as compared to Rs 8 Cr in FY19.

Off late, Social commerce has been gaining lot of traction from investors as this emerging sector is been tipped to lead the next wave of revolution in India’s e-commerce sector. Social commerce is expected to clock exponential growth in the coming years, with this emerging sector having already made a strong foray in Tier 2 and Tier 3 cities.

India’s social commerce industry is tipped to become $20Bn industry in 2025, growing at CAGR of nearly 55-60%.

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