Investors led by Tiger bet $144 million on DealShare

Bengaluru-based social e-commerce platform DealShare has raised $144 million in a Series D round led by Tiger Global and co-led by WestBridge Capital, Alpha Wave Incubation (backed by ADQ and managed by Falcon Edge Capital) and Z3Partners, the startup said on Thursday. Partners of DST Global, Matrix Partners India and Alteria Capital also participated in the funding round.

This is the third fund-raise for DealShare in the past seven months. Since it was founded in 2018, it has raised $183 million. The post-funding valuation after the latest round is pegged at $455 million.

DealShare is known for pioneering the community group buying model in India.

“We believe India is a unique market with a highly diverse demographic and requires an indigenous model that is built based on first principles and differentiates itself from western and Chinese e-commerce models,” said Vineet Rao, founder and chief executive officer, DealShare.

The capital will be used to improve user experience via AI-driven innovations and make it highly personalized and offer a fun-filled gamified experience, the company said.

“We will continue to add more innovative capabilities and services to serve a wider range of user needs. We will also invest in improving and scaling up our operations. We expect our footprint to increase from 20 warehouses in five states to over 200 warehouses across 10 states by the end of this year,” added Rao.