Shopkirana raises $38 million in new funding round, plans pan-India expansion
Business-to-business startup Shopkirana has raised $38 million in new funding round with investments from businesses including Info Edge and plans to expand its operations to a national scale.
Shopkirana’s latest funding round saw participation from pure play internet company Info Edge, Sixth Sense Ventures, and Oman India joint investment fund as well as Trifecta, Incubate Fund, Akatsuki, Ajanta LLP, and Gunosy Capital among others, ET Tech reported.
Shopkirana currently operates in eight cities in four Indian states: Madhya Pradesh, Uttar Pradesh, Rajasthan, and Gujarat. The business has a network of around 50,000 kirana stores which it provides with fast-moving consumer goods and groceries by directly linking kirana stores up with brands. The business also works with brands to boost their distribution by linking them up with kirana stores which will retail their products.
The business’ new expansion plan is designed to enable it to launch in a new city every 15 days to take its operations pan-India.
“With the right product-market fit and considering the heavy adoption from kirana stores, legacy consumer goods brands and direct-to-consumer or D2C brands, we are super excited to take the business to a national scale,” Shopkirana’s co-founder Sumit Ghorawat told ET Tech.
Deepak Dhanotiya, Sumit Ghorawat, and Tanutejas Saraswat launched Shopkirana in Indore in 2015. According to Ghorawat, Shopkirana is the first company in its sector to break even operationally and the business now competes with Jiomart, Jumbotail, Flipkart, and Amazon, among others, in the space.
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