New Delhi . DealShare on Wednesday said it plans to invest USD 100 million (approximately Rs 736.3 crore) to scale up its operations and hire around 5,000 people across various functions.
This investment will be made during the next six months to increase the business rapidly. The company recently raised US$144 million through Tiger Global, Westbridge Capital, Alpha Wave Incubation and others.
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$100 million investment in the next six months
Vineet Rao, Founder and CEO, DealShare, said that we are planning to invest 100 million US dollars in the next six months. This investment will mainly be done for enhancing operational capabilities.
Business in five states and over 45 cities
He said that despite the challenges of Kovid-19, the customer base of the company has increased significantly. “At present we are present in about 900 pin codes in five states and over 45 cities,” Rao said.
He said the company plans to increase its workforce from 1,000 to more than 5,000 in the next six months. These people will be appointed in roles such as operational excellence, product and technology, data science, marketing and sourcing.
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