By Manish Singh
High-profile investors are doubling down on their bets to explore the future of social commerce in India. DealShare said on Thursday it has raised $144 million in a new financing round as it looks to expand its presence in the South Asian market and eye opportunities in international markets.
The new financing round, a Series D, was led by Tiger Global and valued the Indian startup at $455 million (post-money), up from the pre-money valuation of $50 million in Series C. TechCrunch reported in April that the New York-based hedge fund was in talks to lead a large round in the Bangalore-headquartered startup.
WestBridge Capital, Alpha Wave Incubation (a venture fund backed by ADQ, and managed by Falcon Edge Capital), Z3Partners, Partners of DST Global, and Alteria Capital also participated in the new round, third in the last seven months and which brings the startup’s to-date raise to $183 million.
Even as Amazon and Flipkart have been able to create a sizeable market in the urban Indian cities, much of the nation remains still underserved. (Fun fact: DealShare kickstarted its journey the day Walmart acquired Flipkart.)
DealShare, which began as an e-commerce platform on WhatsApp, where it offered hundreds of products to …read more
Source: Tech Crunch