Dukaan Funding, Valuation & Shareholders Breakdown – 2024

Dukaan funding, valuation and shareholders breakdown 2023

In the pulsating realm of e-commerce, DUKAAN has emerged as a game-changer, a force that’s reshaping how small businesses approach the digital frontier. In this article we’ll explore about Dukaan funding journey, lighting its valuation, and deciphering the mosaic of its shareholders structure. 

Dukaan funding, valuation and shareholders breakdown 2023

Dukaan Company Profile

Dukaan, which means “Shop” in Hindi, was founded in June 2020. Founded by the dynamic duo of Suumit Shah and Subhash Choudhary. Their vision was simple as it was ambitious. To empower local and small-scale businesses, enabling them to embrace the digital era without the complexity and cost traditionally associated with e-commerce.

Dukaan is an Indian e-commerce platform that simplifies the process of creating and managing online stores for small and local businesses. It allows local businesses to set up their digital storefronts without the need for extensive technical knowledge or coding skills. Dukaan is a SaaS (Software as a Service) platform. Dukaan follows this model to deliver its services to small businesses and entrepreneurs. 

Some key points of Dukaan

  • It serves in B2B (Business-to-Business) space and in retail market segments.
  • Legal name of Dukaan – Growthpond Technology Private Limited.
  • Being present on a digital platform. It didn’t rely on serving specific cities in the traditional sense as physical businesses do. 
  • It is accessible to users as long as they have access to the internet and a compatible device.
  • Dukaan gained prominence in the e-commerce industry in India in the years following its inception. 
  • It provides a range of tools and features. Such as inventory management, order processing, payment integration, and marketing, all accessible through a web interface. 
  • As of March 31, 2022, Dukaan reported a revenue of $704K.

NOTE: We have a thorough article on Khatabook valuation & funding. For more to know, visit it once!

Dukaan Funding

Dukaan’s first funding round took place on November 15, 2019. Here is the funding story of the company till date.

January 1, 2020Seed round
May 5, 2020Seed round
October 19, 2020Seed roundRs.1.6 croresLightspeed India Partners, Matrix Partners India
September 5, 2021Series A640 Oxford Ventures, Lightspeed India Partners
August 13, 2022Seed roundRs. 15,83 crores
Some funding insights of Dukaan

Dukaan reportedly as of 2022, raised a total amount of $31.7 million over 6 rounds of funding. Matrix Partners India and HOF Capital are the latest investors. With this financial backing, the company surged forward, refining its platform and broadening its reach. The investment influx propelled Dukaan to new heights, allowing it to further refine its platform and expand its offerings.

Dukaan Valuation and Shareholders 

Dukaan’s valuation has witnessed remarkable growth over its journey. Dukaan raised a valuation of $72.4 million on August 13,2022. The app empowered millions of SMBs across India, providing them with digital tools to manage their finances efficiently, access credit, and make informed business decisions. Snow Leopard Ventures, Lightspeed Partners, Matrix Partners, HOF Capital, along with others participated in the fundraising part and making valuation up to mark. 

Company’s 10% of the revenue comes from the subscription fees that the merchants pay on their platform. The company has planned to hit $10 million in the next few years.

Dukaan valuation

Dukaan Shareholders

As of the latest report on August 13, 2022, funds with the value of 38.88%, owns the majority of shares. While founders with a net worth of Rs.203 crores, own 35.34% of shares. Along with it ESOP owns 15.13% of shares, Enterprise holds 2.84%, and Angels hold 7.80% of shares. Dukaan has top competitors in the line like BigCommerce, Shopify, etc. 

Reportedly Dukaan has many shareholders in their list. Some of its shareholders are Matrix Partners India, Sequoia Capital, Venture Capitalists, and Angel Investors.

Dukaan shareholders


In the span of a few short years, Dukaan has gone from a startup with a novel idea to a financial technology giant providing a platform for small businesses. Its valuation, funding success, and diverse shareholder base are a testament to the innovation and dedication of its founders and team. Dukaan’s journey serves as an inspiring example of how technology can transform traditional industries and improve the lives of countless individuals and businesses, especially small and local business.

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Published By: Aashita Singh
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