Venture capital (VC) company Matrix Partners India has led $11-million Seed and Series A investment rounds, jointly with Falcon Edge, in social commerce start-up DealShare. The investment also saw participation from partners of DST Global, Omidyar Network, besides other leading angel investors.
DealShare focuses on grocery and home categories targeted at the middle- and lower-income clientele in Tier-II and -III cities. It currently has more than 300,000 customers in Jaipur, Ahmedabad, Surat, Baroda, Kota, Jodhpur, Ajmer, Sikar, Sawai Madhopur and Nagpur, and plans to launch in some cities of Maharashtra by the end of this month.
The company will use the freshly-infused capital for expansion, developing artificial intelligence (AI)-based solutions, and growing an indigenous logistics network.