DealShare announced that it has raised $165 million in a funding round. The company entered the unicorn club as it is now at a valuation of $1.6 billion. Apart from existing investors like Tiger Global and Alpha Wave Global, the round also saw participation from new investors such as Dragoneer Investments Group, Kora Capital, and Unilever Ventures.

The company said it expects to reach $1 billion in revenues by the near term and will utilise the fresh funds to invest in technology and data science, as well as developing its logistics. Founded in 2018 by Vineet Rao, Sourjyendu Medda, Sankar Bora, and Rajat Shikhar, DealShare focuses on bringing the online shopping experience to first-time internet users. The founders believe there is a possibility to build various kinds of online commerce for the mass market population in Tier 2 and Tier 3 cities which has a monthly household income of less than Rs 50,000.