Fairdeal.Market Raises $3 Mn in Pre-Series A Funding Round
In a significant development in the Indian startup ecosystem, B2B quick commerce startup Fairdeal.Market has secured $3 million in a pre-Series A funding round led by Incubate Fund Asia and Waterbridge Ventures, with angel investor backing. Founded by Prateek and Yash Bansal, Fairdeal.Market has been making waves in the market with its innovative approach to serving micro-retailers with instant delivery, data-driven demand sensing, and a vast range of 1,000+ SKUs.
The funding round, which marks a significant milestone for the startup, will be used to fuel the expansion of Fairdeal.Market in the Delhi-NCR region, upgrade its technology, and onboard more brands. This strategic investment will enable the startup to scale its operations and further solidify its position in the market.
Fairdeal.Market’s unique value proposition lies in its ability to cater to the needs of micro-retailers, who are often underserved by traditional e-commerce platforms. The startup’s platform provides these retailers with instant delivery, allowing them to restock their shelves quickly and efficiently. Additionally, Fairdeal.Market’s data-driven demand sensing technology helps retailers make informed decisions about inventory management and ordering.
The startup’s focus on micro-retailers has been a key factor in its success. According to a report by the Confederation of Indian Industry (CII), micro-retailers account for over 60% of India’s retail market. However, they often struggle with limited resources, making it challenging for them to compete with larger retailers. Fairdeal.Market’s platform has been designed to address these challenges, providing micro-retailers with a convenient and efficient way to manage their inventory and operations.
The funding round, which was led by Incubate Fund Asia and Waterbridge Ventures, also saw participation from angel investors. Incubate Fund Asia, a leading early-stage investor in Asia, has a strong track record of backing innovative startups in the region. Waterbridge Ventures, on the other hand, is a venture capital firm that focuses on investing in early-stage startups with a strong potential for growth.
“We are thrilled to have secured this funding round, which will enable us to scale our operations and further expand our reach in the Delhi-NCR region,” said Prateek Bansal, co-founder of Fairdeal.Market. “Our focus on micro-retailers has been a key factor in our success, and we are committed to continuing to innovate and improve our platform to meet their evolving needs.”
The startup’s founders, Prateek and Yash Bansal, have a strong background in the retail industry, having worked with major retailers and e-commerce platforms before venturing out to start their own company. Their expertise and knowledge of the retail industry have been instrumental in shaping Fairdeal.Market’s business model and strategy.
Fairdeal.Market’s pre-Series A funding round is a significant milestone in the startup’s journey, and it is likely to have a positive impact on the Indian retail industry. The startup’s focus on micro-retailers and its innovative approach to serving this segment will likely inspire other startups to follow in its footsteps.
As the e-commerce landscape in India continues to evolve, startups like Fairdeal.Market are playing a crucial role in shaping the future of retail. With its unique value proposition and innovative approach to serving micro-retailers, Fairdeal.Market is well-positioned to continue its growth trajectory and make a significant impact in the industry.
