This news comes on the heels of its extended Series E round. DealShare plans to use the funds to enhance its technology and support product innovation. Here are the top-line bullets you need to know.
DealShare, a social e-commerce startup, has raised $45M in an extended Series E. The round drew participation from the Abu Dhabi Investment Authority.
How’s the company performing?
- India-based DealShare offers locally sourced essentials, like groceries, beauty and wellness products, and home goods, to middle-income consumers.
- The company has a presence in 100 cities across 10 states in India.
- DealShare reported that its gross revenue run rate rose to around $700M in 2021, and the company expects it to hit $3B in 2022.
- It processes over 400K orders on a daily basis and has over 10M customers.
- DealShare raised $130M in a Series E round last month to drive expansion across India.
Source: DealShare
Why does the market matter?
- The global social commerce market is expected to reach a value of $2.9T by 2026, growing at a CAGR of 30.8%, according to Global Industry Analysts.
- The increasing usage of social media platforms by consumers, particularly amid Covid-19, has convinced businesses to sell their products through such mediums.
- The rising adoption of mobile technologies has also contributed to market growth.
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