B2B quick commerce platform Fairdeal has raised $3 million in a pre-Series A funding round led by Incubate Fund Asia and Waterbridge Ventures, with help from angel investors.
Fairdeal will use this money to improve its technology, expand to more areas in Delhi NCR, and add more direct-to-consumer (D2C) brands to its platform.
“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.
“Fairdeal is building a strong B2B quick commerce infrastructure to serve over 13 million micro-retailers in India. Their execution and margins have been impressive,” said Rajeev Ranka, Partner at Incubate Fund Asia.
Read more- Snapchat Planets, Order and Meaning
“Offline retail has always lacked transparency. Fairdeal’s data offers valuable insights for brands on SKU performance, campaign results, and market opportunities,” said Ashish Jain, Partner at WaterBridge Ventures.
Founded in 2022 by brothers Prateek Bansal and Yash Bansal, Gurugram-based Fairdeal helps small retailers go digital by offering a low-cost, data-driven, and efficient model.
In its first year, Fairdeal reached almost $10 million in annual recurring revenue (ARR).
The platform offers over 1,000 products in its cloud inventory and helps retailers find brands with better profits. It plans to build a network of 100,000 loyal retailers in three years and reach $150 million in ARR.
Fairdeal also collects data on product performance, marketing results, and market gaps, which it shares with multinational, regional, and direct-to-consumer (D2C) brands.
Read more- AI semiconductor tech startup Syenta $8.8 million pre-Series A
