Delhi Mall of Asia, an e-commerce start-up raised funds from Amour Infrastructure

A Delhi NCR based virtual e-commerce platform, Delhi Mall of Asia (DMA) has raised Rs. 22 Cr in a funding round by Satish Jain, a real estate investor through Amour Infrastructure which is his privately held infrastructure development company.

The statements made by the company suggests that the funds will be utilised for the development of the products and its branding, to raise awareness about the latest offers and its USP which differs it from traditional e-commerce models. The company is targeting its launch by January 2020.

The managing director and CEO of DMA, Rishabh Mehra reportedly said that the concept that his company holds differs from the other e-commerce platforms already existing in the market since it mixes up the aspects of physical retail spaces on a digital plane. Mehra has previously claims that apart from offering a marketplace for sellers, DMA will utilise video and music streaming and provide mall-like entertainment services.

Yokeasia Mall is a parent company of DMA has been planning to create an immersive digital presence with the help of AR/VR technology. In order to deliver enhanced shopping experience, the digital space will be have multiple visual and sensory elements so that the visitors can get to move virtually through exclusive digital retail shops, hypermarket stores, trial rooms, night clubs( music streaming), food courts (online ordering) and movie halls (video streaming).

DMA has reportedly claimed to run on a zero-commission model wherein vendors can hire shops according to their requirements of space for as less as INR 10 K per month. Even Vendors will have the opportunity to sign up and get exclusive rights to sell a particular brand or product in a city under Delhi Mall of Asia.

This company’s plan is not limited to just one city or country, but the vision is to take the digital ecosystem across eight countries which includes Japan, China, South-Korea, Singapore, Malaysia, Thailand and Indonesia. A separate virtual mall will be available in all these locations to serve its respective audience.

According to a 2017 report released by NASSCOM, India stands third globally in terms of technology-driven product start-ups and start-up base which is around 5200 tech-based start-ups with 7% growth YoY, where the healthcare growth is 28%, Fintech growth is 31% and 13% growth is of e-commerce and aggregators. Most of these segments will be supposedly driven by AR/VR technology in the coming time. Start – Up Pitches