PE Fund Investments
Grocery chain Apna Mart raises Rs.215-Cr led by Fundamentum, Accel
Bengaluru-based Apna Mart , a franchise-based omnichannel grocery and FMCG (fast moving consumer goods) chain has raised INR 214.5 crore (USD 25 million) in a mix of equity and debt round led by Fundamentum (INR 84 core), Accel India (INR 60.88 crore) with participation from Peak XV Partners (INR 17.4 crore), Sparrow Capital (INR 4 crore), 2AM Ventures, Disruptors Capital, and Alteria Capital.The company will issue 6,342 Series B compulsorily convertible preference shares (CCPS) at INR 2,78,402 per share (INR 176.5 crore) and 3800 debentures (INR 38 crore) for the fundraise.Founded by Abhishek Singh and Chetan Garg, Apnamart provides grocery and FMCG deliveries within 15 minutes and targets tier 2 cities. The company also has brick-and-mortar stores and operates in 14 cities, including Ranchi, Hazaribagh, and Bilaspur.
In Apr-23, Apna Mart had attracted about USD 10 M from Accel India.For FY24, Apna Mart had reported about INR 59 Cr in Operating Income and about INR 33 Cr in Net Loss.
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