Retail Intelligence Platform Fairdeal Mops Up $3 Mn

SUMMARY

Fairdeal.Market has secured $3 Mn in a Pre-Series A funding round led by Incubate Fund Asia and existing investor Waterbridge Ventures

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

Fairdeal has been building a data-led distribution network to provide full-stack offline distribution service to D2C brands

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.

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.

In 2023, Fairdeal.Market secured $2 Mn in a funding round from WaterBridge Ventures, Gemba Capital, GrowX Ventures, Ananta Capital CEO Priyaranjan Kumar, Vini Cosmetics CFO Manish Bajoria and others.

The startup competes with Intelligence Node and Bizom in the retail intelligence space.

Retail Intelligence Market Sees Tech Leap With AI Adoption

Artificial intelligence has enabled retail intelligence platforms to innovate faster by driving advanced problem-solving, strengthening delivery systems and broadening technological capabilities. Investors see the retail intelligence space as a promising market to place their bets.

For instance, Bizom pulled in $12 Mn from Pavestone VC, IndiaMART and other family offices in December last year.

Also, late last year, Cornerstone Ventures exited its investment in retail AI platform Intelligence Node through IPG’s $100 Mn acquisition of Intelligence Node.

The AI in the Indian retail market is projected to skyrocket from $216.26 Mn in 2023 to nearly $2.97 Bn by 2032, as per Credence Research data.