Apna Mart is an omnichannel grocery and FMCG Chain of consumer products that announced its plan to raise 15 to 20 million USD in its ongoing funding round. The fundraising saw the participation of the firm’s new and existing investors including Fundamentum and Accel. This is the second investment in the past 20 months for Apna Mart. The company plans to use these fresh proceeds to scale its operations, enhance its platform, and expand its offerings while developing its market presence.
The startup already received an agreement term sheet and the transaction is expected to be materialized in the coming days. The company has secured $14.4 million across multiple funding rounds since its inception, including the $10 million raised from Sequoia Capital, Accel, and others during the Series A funding round. After this round, the firm will reach a post-money valuation of $100 to $125 million.
This Bengaluru-based startup offers an e-commerce platform that operates across 14 cities in India. The company claims to provide its customers with grocery and FMCG delivery services in just 15 minutes. The startup serves in the cities like Bilaspur and Ranchi. This investment will help the startup to expand its services in more cities while aiming for the market. This startup uses omnichannel mode for grocery deliveries. The startup uses advanced and cutting-edge technologies to offer a seamless customer experience. The company focuses on strengthening its market presence while improving its franchise model for operating efficiency.
The startup reported a 16 times increase in its revenue from operations crossing Rs 59.7 crore in FY24. The company saw an 85.6 percent growth in its scale to Rs 5.4 crore in the same duration. Apna Mart saw a huge increase in its overall growth in the past two years. The existing investor Accel is the firm’s largest investor with 16.6 percent of the company’s stake followed by each co-founder holding 24.76 percent of the total stake.
This online platform offers high-quality products and delivery services with an affordable price range. This startup faces competition from other companies in the same market segment such as Blinkit, Reliance Retail, and Zepto. The investment highlights the investors’ trust in Apna Mart’s business model.
Conclusion :
Apna Mart is a franchise-driven omnichannel grocery and retail chain for consumer products. The company operates in 14 cities across India and offers its delivery services. This startup is set to raise around 20 million USD in its ongoing funding round. This round is expected to have participation from the firm’s existing investors including Accel and Fundamentum Partnership.
The startup intends to use this fresh capital to strengthen its operations in 14 cities, enhance its platform, and develop its market presence. Accel is currently the largest external stakeholder of the firm with a 16.6 percent stake followed by its co-founders, each accounting for 24.76 percent. Following this investment, the company is expected to reach the post-valuation of $125 million. Apna Mart has raised a total of $14.4 million and competes with other retail chain platforms like Reliance Retail.
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