Blitzscale Technology, the parent company behind both WMall and its latest venture ShopDeck, has successfully raised approximately $7.85 million (Rs 65.2 crore) in a recent funding round. This marks a notable return for the company after a five-year hiatus from major funding activity.
The fresh capital injection came through a special resolution by the board, authorizing the issuance of 4,385 compulsorily convertible preference shares (CCPS) at an issue price of Rs 1,48,672 each. According to regulatory filings accessed from the Registrar of Companies (RoC), the investment round was led by Bessemer Venture, which contributed Rs 35.24 crore. Chiratae Ventures and Elevation Capital followed with Rs 9 crore and Rs 11 crore, respectively. Additionally, VH Capital and Reed India collectively invested Rs 9.85 crore in the extended Series B round (B1).
The funds will be allocated to accelerate ShopDeck’s growth, expansion, marketing efforts, and general corporate purposes. ShopDeck, a platform that assists sellers in building and managing their e-commerce stores, competing with giants like Shopify, Magento, and WooCommerce, is also positioned against competitors in the shipping and marketing space, such as Shiprocket and Shipway.
Following this round, Elevation Capital emerges as the largest external stakeholder in ShopDeck with a 19.3% stake, while Chiratae Ventures holds a 16.34% share. Co-founders Harmin Shah and Rishabh Verma retain a significant 43% stake in the company.
Previously known as WMall—a social commerce platform focusing on video and live commerce—Blitzscale Technology pivoted to NuShop in mid-2022, which has since evolved into ShopDeck. This pivot, coupled with the subsequent funding, is a rare example of existing investors continuing their support even after a significant strategic shift and a long funding gap.
In its last fiscal year (FY23), Blitzscale Technology reported a revenue of Rs 19.4 crore and a loss of Rs 9 crore. Notably, shipping and marketing services accounted for over 93% of the company’s total revenue, while enabling e-commerce stores contributed Rs 1.31 crore, or 6.7%, of its operating income. The company has yet to disclose its annual results for FY24.
