Online Groceries

Social e-commerce & Online Grocery startup, CityMall, which is focused on Tier-II cities and other locations in India, announced that it has recently raised $22.5 million in its Series B funding round led by General Catalyst and Jungle Ventures, and the round also witnessed participation from some of its existing investors liken Accel, Elevation Capital, and WaterBridge Ventures.

CityMall was founded in 2019, by Angad Kikla and Naisheel Verdhan, and it provides income opportunities to a network of micro-entrepreneurs called community leaders. The latest funds take them to a total of $36.5 million, and these new funds will be used to increase the company’s presence in the existing 40 towns and also aims to expand this number to 100 in the coming months. These funds will also be used for hiring, technology, and building its own logistics networks like warehouses and hubs.

Angad Kikla said, “CityMall has a vision to change the customer’s experience with the internet, by providing them the access to earning opportunities as well as affordable products and services.”

CityMall enables micro-entrepreneurs to operate their virtual stores and aggregate demand. It also expanded the products that are available on its portfolio, from groceries and FMCG products into fashion, electronics, cosmetics, electrical appliances, and much more.

The startup has been able to disrupt the two biggest cost items for traditional e-commerce platforms, namely, customer acquisition cost and logistics cost, through its community group buying model.

Naisheel Verdhan, Co-founder, Citymall, said, “We want to create a decentralized ecommerce ecosystem for the upcoming Internet users who live in small towns and villages.”

Alex Tran, Partner at General Catalyst, said, “As internet connects beyond metros into smaller cities and communities, new and innovative social commerce models like CityMall have a good opportunity and potential to offer consumers a better buying experience.”

Online Team AsiaTech
Online Team Asia Tech is a team of Journalists, Entrepreneurs, and Enthusiast Writers who contribute to the platform by bringing everyday stories, updates, opinions and insights from the Asian Startup Ecosystem.

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