DealShare has announced that it has secured another $45 million as part of its series E funding round from the Abu Dhabi Investment Authority (ADIA).
"India's e-commerce ecosystem is developing rapidly, and DealShare is addressing an underserved and growing segment within it," said Hamad Shahwan Al Dhaheri, Executive Director of the Private Equities Department, ADIA.
The latest addition takes the funding amount secured in 2022 to $210 million with previous investments made by Tiger Global Management, Alpha Wave Global, Dragoneer Investment Group, Kora Management, and Unilever Ventures.
Recently in January 2022, the Bengaluru based startup had raised funds that placed the company on the Unicorn road map. With all time funding totals to $393 million, the company’s evaluation is at $1.7 Billion.
"In a span of just 3 years, we have scaled to over 10 million customers and over 100 cities across 10 states," said Vineet Rao, Founder and CEO of DealShare.
DealShare will use the funds to boost product innovation and technology to support its rapid growth and expanding customer base. The company will use funds to build teams across the country and hire new tech talent at all levels with the plan being to hit $3 billion of gross revenue in the next 12 months.