Retail intelligence platform Fairdeal.Market has secured $3 Mn (INR 26.3 Cr) in a Pre-Series A funding round led by Incubate Fund Asia and existing investor Waterbridge Ventures.
The round also saw participation from a host of undisclosed angel investors.
The startup plans to use the fresh capital to deepen its technology moat, expand into new zones in Delhi NCR and onboard more D2C brands.
Founded in 2022 by brothers Prateek Bansal and Yash Bansal, Fairdeal has been building a data-led distribution network to provide full-stack offline distribution service to D2C brands.
“At Fairdeal, we combine instant delivery with intelligent demand sensing to ensure retailers get exactly what they need, exactly when they need it – no overstocking, no capital stuck on shelves,” the cofounders said in a joint statement, defining the business.
The Gurugram-based startup also aims to empower these brands by helping them earn better and building a platform of highly loyal 100K retailers over the next three years.
Fairdeal.Market last raised $2 Mn funding from WaterBridge Ventures, Gemba Capital, GrowX Ventures, Ananta Capital CEO Priyaranjan Kumar and Vini Cosmetics CFO Manish Bajoria, among others, in 2023.
The startup competes with Intelligence Node and Bizom in the retail intelligence space today.
Artificial intelligence has helped platforms operating in the retail intelligence market to boost their innovation by employing AI for advanced problem solving initiatives, enhancing delivery mechanisms and expanding their tech abilities.
Investors are banking on this market opportunity to make their bets in the retail intelligence space.
To note, Bizom raised $12 Mn (around INR 102 Cr) from Pavestone VC, IndiaMART and other family offices, in December last year.
At the same time, VC firm Cornerstone Ventures exited from Intelligence Node, following the company’s acquisition by global advertising conglomerate Interpublic Group (IPG).
(The story will be updated soon)
The post Retail Intelligence Platform Fairdeal Mops Up $3 Mn appeared first on Inc42 Media.
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