Funding Alert

Corner shop corporate store AMPM raises Rs 1.6 Cr through Agility Venture Partners

The AMPM stores give Indian and worldwide items across classes like staple, pastry kitchen, dessert shop, writing material, drug store, and F&B (food and drinks)

Haryana-based general store startup AMPM, which means to be India’s solution to Japan’s 7-Eleven, on Tuesday declared that it has brought Rs 1.6 crore up in financing through Agility Venture Partners, a private supporter stage.

“We’re elated! The underlying subsidizing arrangement was uniquely for Rs 1 crore, however we saw an over-membership of Rs 60 lakh. This help and certainty has made us more idealistic of our accomplishment in the coming years,” said Shubham Gupta, Founder and Managing Director of AMPM.

Shubham further added that the AMPM stores give Indian and worldwide items across classes like staple, pastry kitchen, candy parlor, writing material, drug store, and F&B (food and refreshments). These stores additionally have a 24 hours live kitchen bistro with a sit-out, alongside conveyance.

“At the present time, we’re live in five urban areas including Karnal, Panipat, Gurugram, and Yamunanagar. We mean to grow to 10 urban communities before the finish of 2021, with at any rate 15 live stores across northern India. This will extend to 15+ urban areas in the following year,” Shubham said. Dexterity Venture Partners, a New Delhi-based financial backer asset, has plans to put resources into 30 new businesses across 2021 and dispatch its investment store by September. Supported by a gathering of 440 financial backers across five parts in India and Dubai, the asset has raised about Rs 7 crore for brands like Power Gummies, Vanity Wagon, CivilCops, and all the more prior. “We are glad that our endeavors have supported AMPM to discover a corpus of Rs 1.6 crore, with a real valuation of Rs 6.6 crore. We trust we can control numerous different brands this year to discover the fuel for their billion-dollar dreams,” added Prashant Narang, Co-author of Agility Venture Partners. This venture round from Agility likewise had Vineet Gupta, a fruitful business visionary himself, taking up the part of a coach and lead financial backer in AMPM.

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