Tiger Global leads $100m funding in Indian social commerce startup DealShare: Report

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New York-based investment firm Tiger Global Management has led a $100 million Series D funding in the Indian social commerce startup DealShare, TechCrunch reported on Tuesday.

The latest funding follows DealShare’s $21 million Series C round in December, which was led by WestBridge Capital. The round also saw participation from Alpha Wave Incubation, which is a venture fund managed by Falcon Edge Capital, Z3Partners, and existing investors Matrix Partners India, and Omidyar Network India.

Last month, the company raised Rs25 crore in debt funding from Innoven Capital.

Founded in 2018, DealShare targets the middle-income demographic, focusing on 500 million new-to-internet users. Currently, the company is present in 25+ cities and towns across Rajasthan, Gujarat, Maharashtra, and Karnataka. It claims to have acquired more than 20 lakh consumers and caters to about 25,000 orders on a daily basis.

In a statement in December, DealShare said it had partnered with 1,000 brands of which 70& are local and regional ones. It is also planning to add 5,000+ local brands to its portfolio this year.

E-commerce sales in India have thrived since the onset of the pandemic, except for months when the country was under lockdown. India’s e-commerce market is poised to grow by 84% to $111 billion by 2024 on the back of accelerated adoption of digital technologies amid the pandemic, per a report by fintech firm FIS.

Meanwhile, Tiger Global, which recently closed a $6.7 billion fund, is already on an investment spree in India. It helped produce four Indian unicorns last week alone, by extending funding to social network app ShareChat, business messaging platform Gupshup, investment app Groww, and fintech app CRED.

SaaS company Innovaccer and construction marketplace Infra.Market also raised capital from Tiger earlier this year at over $1 billion valuations.

According to India Venture Capital Report 2021, published last week by Bain & Co. and Indian Venture Capital Association (IVCA), Tiger Global pumped in $586 million across 21 deals in India in 2020.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.