Indore based ShopKirana raises $38 million in Series C round of funding

• ByStartupStory     |    January 27, 2022

Indore headquartered inventory procurement platform ShopKirana   has recently announced that it has raised a sum of $38 million in its Series C round of funding led Oman India Joint Investment Fund, Sixth Sense Ventures as well as existing investor Info Edge.

The Series C round also saw participation from a clutch of investors including the venture debt fund Trifecta, Gunosy Capital, Ajanta LLP, 9Unicorns as well as existing investors Incubate Fund and Akatusi among others.

In a statement, the company revealed that the recently infused capital will be deployed for expanding the reach of the company to as many as 30 cities across the country over the next year and a half. With this round of funding, the valuation of the startup has jumped to $150 million.

“ShopKirana   possesses the key tenets for a successful company. Large addressable market – $500 billion market poised for disruption, highly motivated promoters, capital-efficient business model and a great product-market fit – serving the need of kirana shop owners and their suppliers (FMCG brands and others) thus laying a strong foundation for a long term competitive edge,” said Srinath Srinivasan, CEO at Oman India Joint Investment Fund Management Company, in a statement.

Launched in 2015 by Sumit Ghorawat, Deepak Dhanotiya and Tanutejas Saraswat,  ShopKirana  is a B2B marketplace which caters to the procurement needs of kirana`s. The startup connects multiple retailers and kirana owners in Tier II cities with FMCG brands for the purpose of procurement. The Indore based startup offers its clients a one stop solution to procurement needs and uses technology to ensure timely delivery and payment. It currently operates with a network of 50,000 retailers across 8 cities.

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