DealShare, a social commerce startup, joined the coveted unicorn list on Friday with a fundraise of $165 million in a Series E round. This round was led by Dragoneer Investments Group, Kora Capital and Unilever Ventures, along with participation from existing investors Tiger Global and Alpha Wave Global (previously known as Falcon Edge).
Founder and chief executive officer of DealShare Vineet Rao said: "We have created a network of over 1,000 community leaders under our flagship program DealShare Dost enabling an efficient and highly scalable supply chain. We will be utilising the proceeds from the round to invest heavily into technology, improve the supply chain and expand our footprint throughout the country,” Rao added, in a press statement.
It also plans to establish a sizable offline store franchise network, the statement added.
Currently, DealShare is present in 100+ cities across 10 states and it plans to expand to 200+ cities across 20 states in 2022. The company has acquired more than 10 million consumers and adds lakhs of new consumers every month, the statement added.
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