1K Kirana raises $25 Mn for its hyperlocal shopping and distribution platform
- ByStartupStory | May 23, 2022
1K Kirana, an Indian startup that runs an eponymous hyperlocal shopping app and retail distribution network, has raised $25 million in a new funding round to help brands and neighbourhood stores reach a wider audience.
Alpha Wave Global, Info Edge Ventures, and Kae Capital led the Series B funding round for the three-year-old startup. A number of angel investors, including Zetwerk’s founder and CEO Amrit Acharya, took part in the first tranche of a bigger financing round, according to the startup.
The firm was founded in 2018 By Kumar Sangeetesh, Sachin Sharma and Abhishek Halder, 1K Kirana is using a diverse approach to solving the problem. The startup acts as a distribution network for small businesses, as well as assisting them with digital marketing in order to reach a larger audience. Consumers can now utilise 1K Kirana’s app to find, order, and pay for their products.
Kumar Sangeetesh, co-founder of 1K Kirana said that the company has complete control over their supply chain and also provides the items, markets them, and ensures that customer traffic increases in the store. These shops act like a franchise partner and generate money through commission instead of playing through the margin.
1K Kirana claims to have served over a million clients throughout more than 25 districts in Delhi, Haryana, Rajasthan, and Uttar Pradesh, with a network of over 1,000 outlets. It wants to use the new funding to hire more tech expertise and expand 1K Kirana’s reach to over 100 districts.
Follow Startup Story
Related Posts
