Gurgaon: Gurgaon-based group buying portal, dealsandyou has raised $17 million in series B round of funding from Mayflied Fund and Norwest Venture Partners, in participation from Nokia Growth Partners and Interl Capital. The company plans to use the funding to become a more aggressive player in the e-commerce space, and would invest the amount in four strategic areas, namely technology, infrastructure, talent, and branding.
dealsandyou was founded by Harish Bahl, Tarun Sobhani, and Sampad Swain in 2010. Harish Bahl, Chairman and Founder, dealsandyou, a serial entrepreneur has laid the foundation for Smile Group, HealthPA, and Creons Advertising. He has led several ventures in association with WPP, Yahoo!, BrandAlliance, ScanGroup, and GBG in the online media, e-commerce, and healthcare and retail infrastructure sectors. Bahl represents the Indian Internet community for addressing issues related to growth and smooth functioning at various regulatory bodies. He is a member of the Advisory Board for comScore India and has chaired the Digital Agencies Committee of the Internet and Mobile Association of India. Bahl did his B.Tech., Computer Science from SDM College of Engineering and Technology, Dharwad.
Mayfield Fund has over $2.7 billion under its management and invests globally in U.S., India, and China. It invests in relationships with entrepreneurs and institutions to transform bold ideas into industry-leading companies. Their mission is to create global impact and investor value, by partnering with visionary entrepreneurs who are addressing disruptive markets.
Norwest Venture Partners is a global venture capital firm, which makes early to late stage investments across a wide range of sectors. The firm manages over $3.7 billion in capital and has funded over 500 companies since its inception. Nokia Growth Partners is a global growth stage venture firm, focuses on mobile technology, services, and media. They invest in companies, firms, and people who are changing the face of mobility, communications, and the internet. They work closely with the promising companies, adding value through seep domain expertise and network in the mobility market.
Intel capital's vision is to be the preeminent global investing organization in the world. Their mission is to make and manage financially attractive investments, which are at par with Intel's strategic objectives. Through personal introduction events, Intel Capital offers access to executives from influential corporations across the globe.