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<ul><li><keyword id="8177368" type="UNKNOWN" weightage="20" keywordseo="CityMall">CityMall</keyword> has raised $22.5 million in Series B round led by General Catalyst and Jungle Ventures.</li><li>The company will also look into expanding its logistics network to cater to the demand of its customers.</li><li>Meesho continues to be the highest funded social commerce startup, with more than $500 million in external funding till date.</li></ul>Indian social commerce startup CityMall has closed its Series B funding round at $22.5 million on Tuesday. The round was led by General Catalyst and Jungle Ventures, with participation from existing investors Accel, Elevation Capital (formerly known as SAIF Partners) and WaterBridge Ventures. The Gurugram-based startup had closed its <a href="https://www.business-standard.com/article/companies/social-e-commerce-platform-citymall-raises-11-mn-in-new-funding-round-121032501086_1.html">Series A </a>round led by Accel Partners at $11 million earlier in March, this year. Overall, CityMall has raised a funding of $36.5 million since its inception in 2019. This round has catapulted CityMall to the position of the third most funded startup in the nascent social commerce segment. Social commerce is a subset of e-commerce that relies on social media and other online media to drive sales. Currently, it is led by <a href="https://www.businessinsider.in/advertising/brands/article/meesho-the-latest-company-to-join-the-unicorn-club-aims-to-build-a-single-ecosystem-to-help-smbs/articleshow/81953840.cms">Meesho</a> with a funding of over $515 million and a unicorn tag. It is followed by DealShare that has raised about $144 million to date. A unicorn, in startup parlance, is a privately held firm with a valuation of more than $1 billion. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="3" style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#cfe2f3;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top funded social commerce startups in India </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Startup </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Funding </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Key Investors </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Meesho </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$515 million </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">SoftBank Vision Fund, Facebook, Sequoia Capital </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">DealShare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$144 million </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Falcon Edge Capital, Matrix Partners India, Tiger Global, InnoVen </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Glowroad </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$31.3 million </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Accel, Korea Investment Partners, Vertex Ventures, ADH Investments </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">CityMall </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$36.5 million </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">General Catalyst, Jungle Ventures, Accel, Elevation Capital </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">SimSim </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$15.5 million </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Accel India, Shunwei Capital, Good Capital </td></tr><tr><td colspan="3" style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> *Source: Crunchbase </td></tr></tbody></table> CityMall plans to use this fresh funding towards expanding its current workforce of 700 by hiring 150 employees, enhancing technology and building its logistics network that will include warehouses and hubs. It also plans to strengthen its presence in the existing 40 towns and expand into 100 new towns in the coming months. The company, founded by Angad Kikla and Naisheel Verdhan, enables micro-entrepreneurs (known as community leaders on the platform) to set up their virtual stores on WhatsApp and sell products to their close networks using ecommerce tools and customer analytics. Commenting on the latest fundraise, CityMall’s founder Kikla said, “We are building CityMall with a vision to transform their [users] experience with the internet -- by providing them with access to earning opportunities as well as affordable products and services.” Meanwhile, Verdhan added that the company aims to build a decentralised ecommerce ecosystem for the next 200-300 million internet users living in India’s small towns and villages. Notably, the company’s target audience are users from Tier II, Tier III and Tier IV regions of the country. Earlier, it focused on providing affordable everyday products like groceries and fast moving consumer goods (FMCG) more to its customers. However, it recently expanded horizontally to offer electronics, electrical appliances, cosmetics and apparels. According to the previous press notes shared by the company, it has built a network of 20,000 community leaders who are catering to the needs of 2 lakh customers across communities. The company claims that its model, while offering traditional ecommerce services, helps avoid major customer acquisition as well as logistics cost. "As internet penetration reaches beyond metros and into smaller cities and communities, new and innovative social commerce models like CityMall have the potential to offer consumers better buying experiences through right assortment, price points, and support while democratising entrepreneurship opportunities for millions,” Alex Tran, partner at General Catalyst, said. SEE MORE: <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-amazon-may-not-be-able-to-do-flash-sales/articleshow/83737670.cms" data-type="tilCustomLink" target="_blank">Amazon, Flipkart and other e-commerce platforms may not be able to do flash sales any more, if Indian government has its way</a> <a href="https://www.businessinsider.in/business/startups/news/jio-investor-kkr-buys-controlling-stake-in-fogg-maker-vini-cosmetics/articleshow/83711657.cms" data-type="tilCustomLink" style="">Jio Investor KKR buys controlling stake in Fogg maker Vini Cosmetics</a> <a href="https://www.businessinsider.in/business/startups/news/james-murdoch-plans-to-raise-150-million-from-ultra-rich-to-invest-in-indian-startups/articleshow/83709567.cms" data-type="tilCustomLink">James Murdoch plans to raise $150 million from ultra rich to invest in Indian startups</a>

CityMall, a startup that helps budding entrepreneurs start their ventures on WhatsApp, has raised over $22 million

<ul><li><keyword id="7412577" type="General" weightage="20" keywordseo="Dealshare" source="Orion">DealShare</keyword> is looking to hire upto 1,500 employees across tech and product side to increase its workforce to 3,500.</li><li>The four-year-old <keyword id="623994" type="General" weightage="20" keywordseo="social-commerce" source="Orion">social commerce</keyword> startup plans to expand its business 3x and enter another 100 cities in this fiscal year.</li><li>It serves more than 3 lakh orders per day across 1,000 pin codes spread over 150 cities in 10 states.</li></ul>Grocery-focused social commerce startup DealShare is looking to hire upto 1,500 employees across tech and product side to increase its workforce to 3,500 by the end of this fiscal year. The company has already doubled its workforce to 2000 since last year, Vineet Rao, founder and chief executive officer of DealShare, told Business Insider. The hiring outlook is a part of DealShare’s plans to further strengthen its business this quarter by focusing on filling the gaps in the business in order to build a stronger offering. Simultaneously, the company plans to expand its business 3x and enter another 100 cities in this fiscal year (FY 22-23). “Because we were growing up so fast there have been lots and lots of problems that have also creeped in. In some places my assortment is not perfect the way it should be, people are not finding all the things that they should find in DealShare, in some places pricing and promotions are not right, in some places the inventory is not available as much as it should be,” Rao told Business Insider. DealShare serves more than 3 lakh orders per day across 1,000 pin codes spread over 150 cities in 10 states. The company believes that even with the expansion to 250 cities, a large part of their traffic would come from their existing 150 cities instead of the newly added 100 cities. The company also claims to have crossed a billion dollars in gross revenue run rate last month. DealShare has raised $393 million to date since its inception in 2018. The company was founded by Vineet Rao, Sourjyendu Medda, Sankar Bora and Rajat Shikar. It primarily focuses on sale of groceries and household essentials through social media and messaging platforms like WhatsApp. The Jaipur-based company entered the unicorn club earlier this year, after being <a href="https://www.businessinsider.in/business/ecommerce/news/social-e-commerce-platform-dealshare-raises-45-million-from-adia/articleshow/89641250.cms">valued at $1.7 billion</a>. DealShare competes with other social commerce platforms like <a href="https://www.businessinsider.in/business/startups/news/citymall-a-startup-that-helps-budding-entrepreneurs-start-their-ventures-on-whatsapp-has-raised-over-22-million/articleshow/83741383.cms">CityMall and BulBul</a>, among others. Looking beyond hiring, Dealshare has plans for inorganic growth, too The company is also looking to strengthen its business by acquiring 5-10 small brands, with their own manufacturing units, in an attempt to expand its offerings. Rao emphasised that they would be looking to acquire fast moving consumer goods (FMCG) and staples companies majorly, but will also look at essential fashion. The four-year-old startup has not yet decided on an average ticket size yet as the deal size would depend on the acquired company. Rao noted that the transaction could go as low as ₹25 crore. The company is currently exploring options for debt to fund these acquisitions. Separately, DealShare also claims to always be on the lookout for acquiring companies that can further boost its operations like logistics or technology. The Jaipur-based startup claims to have over 1,000+ micro-entrepreneur partners registered on the platform, who help sell products online. The company targets to increase this figure to 5,000 by year end, DealShare’s chief operating officer and founder Sankar Bora previously said. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/tech/enterprise/news/cognizants-latest-earnings-have-a-silver-lining-for-indian-it-majors-tcs-infosys-and-wipro/articleshow/91334290.cms">Cognizant’s latest earnings have a silver lining for Indian IT majors TCS, Infosys and Wipro</a> <a href="https://www.businessinsider.in/business/corporates/news/google-india-appoints-former-modi-think-tank-official-as-policy-head/articleshow/91333970.cms" data-type="tilCustomLink">Google India appoints former Modi think-tank official as policy head</a> <a href="https://www.businessinsider.in/stock-market/news/these-domestic-mutual-funds-stepped-up-for-lic-ipo-anchor-book-as-foreign-investors-remain-cautious/articleshow/91306852.cms">LIC IPO anchor book — domestic mutual funds step up as most marquee foreign investors skip India’s biggest IPO yet</a>

Social commerce unicorn DealShare is now on a lookout to hire 1,500 employees, acquire 10 businesses this year

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CityMall, a startup that helps budding entrepreneurs start their ventures on WhatsApp, has raised over $22 million

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Social commerce unicorn DealShare is now on a lookout to hire 1,500 employees, acquire 10 businesses this year

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