Pakistan’s DealCart raises $4.5-million pre-seed led by Shorooq Partners while India’s ChattyBao Technologies raises over $5-million seed led by Vertex SEA and Info Edge.
DealCart’s $4.5m pre-seed led by Shorooq Partners
Pakistani group buying platform DealCart has raised a $4.5-million pre-seed round led by Shorooq Partners, according to a statement on Thursday.
The Karachi-based startup also raised funds from Fatima Gobi Partners, Vibe Capital, 500 Global, i2i Ventures, JulianShapiro, Rally Cap Ventures, Alex Lazarow and angel investors.
DealCart adopts a “buy together and save together” model, allowing users to place orders in groups and share deals on messaging platforms while unlocking discounts for their purchases. According to its website, the platform will focus on everyday essentials, locally manufactured products and fresh produce. It currently serves the city of Karachi.
“Pakistan has recently seen a surge in social media users, a phenomenon that generally precedes these users transacting online for their daily needs. DealCart seeks to use this opportunity to introduce our group-buying platform with the aim to enable more people to get access to their favourite brands at extremely affordable prices,” said Haider Raza, co-founder of DealCart.
“With our target market spending upwards of 50% of their household income on groceries and essentials, DealCart provides the already-inflation-burdened Pakistani consumer much-needed relief,” he added.
DealCart added that it will use the funds to develop its products and expand its team. The firm also aims to increase nationwide awareness and visibility for locally manufactured brands through its platform.
Vertex SEA, Info Edge lead ChattyBao’s $5m seed
Indian shopping platform ChattyBao Technologies has raised over $5 million in seed funding co-led by Vertex Ventures Southeast Asia and India and Info Edge Ventures. The round was also joined by 7Square Ventures and angel investors, the firm added in a statement.
ChattyBao aims to offer hyperlocal commerce in India by simplifying WhatsApp Shopping for users. It connects local merchants directly with users, providing a complete shopping experience on Whatsapp. Users will be able to discover, chat, order and have their purchases delivered home, without having to search and tap across multiple apps.
As such, ChattyBao also enables local businesses to thrive, giving them the chance to fend off competition from larger merchants.
“The entrepreneurial spirit of local businesses in India has always helped them survive and fight competition from larger players. ChattyBao will significantly enhance their ability to provide an e-commerce experience to their users, helping them compete effectively with online players,” said Kumar Aditya, co-founder at ChattyBao.
ChattyBao is co-founded by Kumar Aditya and Varun Gupta. Prior to setting up this firm, Aditya was chief business officer at Paytm while Gupta was a director at B Capital Group.
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