DealShare Raises $100M in Series D Funding Round Through Indian WhatsApp
DealShare, an Indian social commerce startup, has raised $100 million in a Series D funding round led by Tiger Global Management. The funding round also saw participation from existing investors including WestBridge Capital, Alpha Wave Incubation, and Z3Partners. The company plans to use the funds to expand its operations and strengthen its technology platform.
DealShare is a platform that connects local manufacturers with consumers through social media channels such as WhatsApp and Facebook. The company offers a wide range of products including groceries, household items, and electronics at affordable prices. The platform has gained popularity in India due to its focus on providing high-quality products at reasonable prices.
Expanding Operations Across India
With the latest funding round, DealShare plans to expand its operations across India. The company currently operates in 25 cities across four states in India and plans to expand to 100 cities in the next 12 months. The company also plans to increase its workforce from 1,500 to 10,000 employees in the next two years.
The company’s expansion plans are driven by the increasing demand for social commerce platforms in India. According to a report by RedSeer Consulting, the social commerce market in India is expected to grow from $1.5 billion in 2020 to $16-20 billion by 2025.
Strengthening Technology Platform
DealShare also plans to use the funds to strengthen its technology platform. The company plans to invest in artificial intelligence (AI) and machine learning (ML) technologies to improve its recommendation engine and enhance the user experience. The company also plans to invest in logistics and supply chain management to improve its delivery capabilities.
The company’s focus on technology is driven by the need to provide a seamless shopping experience for its customers. With the increasing competition in the social commerce space, companies need to differentiate themselves by providing a superior user experience.
Challenges and Opportunities
The social commerce space in India is highly competitive with players such as Meesho, GlowRoad, and Shop101 competing for market share. However, DealShare has been able to differentiate itself by focusing on providing high-quality products at affordable prices.
The company’s focus on social media channels such as WhatsApp and Facebook has also helped it reach a wider audience. With the increasing penetration of smartphones and the internet in India, social media channels have become an important medium for businesses to reach customers.
However, the social commerce space in India also faces challenges such as low digital literacy and poor logistics infrastructure. Companies need to invest in educating customers about the benefits of social commerce and improving their delivery capabilities to succeed in this space.
The Future of Social Commerce in India
The social commerce space in India is expected to grow rapidly in the coming years driven by the increasing adoption of smartphones and the internet. According to a report by Bain & Company, the social commerce market in India is expected to reach $70-100 billion by 2030.
The growth of social commerce in India presents a huge opportunity for businesses to reach a wider audience and increase their revenue. However, companies need to invest in technology and logistics to provide a seamless shopping experience for their customers.
Conclusion
DealShare’s latest funding round is a testament to the growing demand for social commerce platforms in India. The company’s focus on providing high-quality products at affordable prices and its use of social media channels such as WhatsApp and Facebook has helped it differentiate itself from its competitors. With the latest funding round, the company plans to expand its operations across India and strengthen its technology platform. The social commerce space in India presents a huge opportunity for businesses to reach a wider audience and increase their revenue, but companies need to invest in technology and logistics to succeed in this space.
