 "Fairdeal raises $3 mn in pre-series A funding to expand, deepen tech infra")
Fairdeal Market, a business-to-business (B2B) quick commerce platform, on Tuesday said it has raised $3 million in a pre-series A funding round led by Incubate Fund Asia and Waterbridge Ventures.
The company plans to use the funds to deepen its technological infrastructure, expand into new zones in Delhi's national capital region, and onboard more direct-to-consumer and regional brands.
The firm, co-founded by brothers Prateek and Yash Bansal, is approaching $10 million annual recurring revenue (ARR) within a year of its operations, it said in a statement. Over the next three years, the company plans to onboard 100,000 retailers and achieve an ARR of nearly $150 million.
At a time when most technology distribution models are focused on shifting market share away from retailers, Fairdeal is aligning with them by providing cloud inventory of over 1,000 stock-keeping units, and discovery of upcoming brands with better margins, the company added.
"India’s kirana stores are no longer just adapting to the digital economy - they are actively defining it. B2B quick commerce is unlocking a new era of leverage, where speed, data, and precision form the real moat. At Fairdeal, we combine instant delivery with intelligent demand sensing to ensure retailers get exactly what they need, exactly when they need it - no overstocking, no capital stuck on shelves. For the first time, retailers are operating with real-time supply chains, behaving like modern, asset-light businesses," the co-founders said.
Rajeev Ranka, partner at Incubate Fund Asia, said, "We are pleased to announce our partnership with Fairdeal, a company building a robust B2B quick commerce infrastructure to serve over 13 million micro-retailers across India. Their model is powered by high-velocity fulfilment, data-driven analytics, and a curated assortment of SKUs tailored to market demand. We are particularly impressed by the exceptional execution capabilities demonstrated by Prateek and Yash, who have rapidly scaled operations while achieving industry-leading margins in a short span of time.”