Technology

Dealsandyou.com closes $17mn funding round

MUMBAI: Smile group‘s daily deals site, dealsandyou.com, closed $17 million round of funding led by Mayfield Fund and Norwest Venture Partners (NVP).


Nokia Growth Partners and Intel Capital also participated in this round.


dealsandyou.com was launched in August 2010 and in just over a year has expanded to serve local deals in 12 cities and national deals (product, travel, retail) to more than 250 cities.


The company previously raised $1.5 million in its first round of funding from Group Buying Global A.G., which has launched similar business models across four continents.
 
Dealsandyou.com CEO Gaurav Kachru said, "The raised capital will help us continue to build a strong customer focused business with greater investments in technology and infrastructure, which will help better serve our customers."


Mayfield Fund MD Navin Chaddha said, "The upwardly mobile Indian consumer has embraced the Internet, and dealsandyou.com has the team, the scalable product and momentum with over 3M members to dominate both the local and national daily deals space. dealsandyou.com has continuously led innovation in the daily deals market and is India‘s fastest growing business in this segment."

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