ShopDeck is a D2C startup that provides solutions for e-commerce businesses. The startup raised $8 million in its ongoing funding round. Bessemer Venture Partners led the funding round with the participation of Elevation Capital, Chirtae Ventures, and Venture Highway. These e-commerce and management services are the company’s primary sources of revenue. The company plans to use these fresh proceeds to scale its operations, enhance its platform, expand its services, and develop its market presence.
The D2C startup helps sellers create online websites, and stores. The firm also helps them with shipping, marketing, logistics, and more. The company focuses on developing its market presence across tier-II and tier-III cities. The startup also secured around 7.85 million USD from its existing investors Bessemer Venture Partners, Chiratae Ventures, and other investors during its series B funding round.
This D2C brand provides several e-commerce solutions including helping users with online brand presence, transactions, and more. The company also offers a platform that allows retailers to start businesses and sell products online. The brand serves in retail and e-commerce market segments. The investment highlights Investor’s interest in ShopDeck’s market potential and business model. The startup aims to use this investment to expand its stores while developing a brand presence in the Indian D2C market.
ShopDeck offers storefront solutions for e-commerce businesses. The new investment round came after increased investor interest in the D2C e-commerce sector. The startup faces competition from other e-commerce solution-offering platforms such as Shopify, Webs, and Weebly. The firm has over 5 institutional investors including Elevation Capital, Bessemer Ventures, and Chiratae Ventures. Before this funding round, the existing investor Chiratae Venture was the firm’s largest institutional investor.
The Bengaluru-based D2C startup aims to improve its business model while offering innovative solutions to strengthen its position in the e-commerce sector. ShopDeck uses advanced technologies in its application for a seamless user experience.
This marks the company’s second fundraising round since its inception. The company aims to transform the market segment using its technologies while increasing its brand presence in India. The startup wants to revolutionize the e-commerce ecosystem and introduce more efficient ways to promote brands online.
Conclusion :
E-commerce solution-providing company ShopDeck secured 8 million USD in its fresh funding round from Bessemer Venture partners. The funding round saw the participation of the firm’s existing investors Venture Highway, Chiratae Ventures, and Elevation Capital. The company intends to use these fresh proceeds to scale its on-ground operations, develop its brand presence, enhance its performing capability, and improve its AI technology stack for better user experience.
The platform provides marketing solutions for e-commerce businesses and enables sellers to create e-commerce stores or websites. The digital platform claims to use artificial intelligence to analyze a company’s performance. The startup aims to use some of this new investment to support sellers across tier-II and tier-III cities in India. ShopDeck competes with other companies in the same segment including Shopify, Jimdo, Demandware, and Oxatis.
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