About $75 Mn raised by Social Commerce Startup CityMall From Norwest, Citius VC
- ByStartupStory | March 8, 2022
CityMall, a social Commerce Startup raised about $75 Mn in its Series C round of funding led by Norwest Venture Partners, its new investor. The will also see participation from Luxembourg-based Citius VC in the fresh round. WaterBridge Ventures, Jungle Ventures, General Catalysts, Accel India, and Elevation Capital are the existing investors who will also be participating in this funding round. An estimate suggests that around $300 Mn is the current investment value of CityMall.
About $22.5 Mn has been raised in its Series B round led by General Catalysts, and Jungle Ventures, the first round of investment comes in after nine months of its raise. Participation of its existing investors were also seen in the round. Series A was also raised by CityMall last year. Last year in March, the startup led by Accelerator Partners, along with Elevation Capital, and WaterBridge Ventures bagged $11 Mn.
CityMall is a Gurugram-based social commerce startup founded by Angad Kikla and Naisheel Vardhan in the year 2019. It deals in grocery, fresh and packaged FMCG products, white goods, electronics and fashion products in Tier III and Tier IV towns and villages. The startup’s services claims to double down its gross merchandise value (GMV) and currently it is operational across Haryana, UP, and Delhi NCR region.
The startup enables to set up its digital store through phone via micro entrepreneurs, and help them connect with the new potential customers. Social commerce including Google-backed Meesho, newly turned unicorn Dealshare, Flipkart’s Shopsy, and community driven Udaan B2B giant and IPO-bound Udaan are the giants that CityMall finds itself to compete against.
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