Indian startup DealShare gets $45M from Abu Dhabi Investment Authority for global expansion
Abu Dhabi Investment Authority ( ADIA) has put its money in an Indian social commerce startup. The amount that DealShare got would help it expand globally. Abu Dhabi Investment Authority ( ADIA) has invested $45 million in DealShare, bringing the total value of the Jaipur-based social commerce startup's Series E financing round to $210 million. The investment values DealShare at $1.7 billion and brings the company's total funding to $393 million. DealShare, whose backers include Tiger Global and Alpha Wave Global, operates a so-called social commerce firm that serves clients in more than 100 Indian villages and towns where Amazon has made little to no inroads. DealShare is "gamifying and socialising the parts of purchasing" to reach the masses, according to Rajat Shikhar, the startup's co-founder and chief product officer. According to him, these techniques include motivating customers to buy in groups and invite their friends, as well as "...