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Retail-tech startup 1K Kirana raises $4-M bridge round at 60% valuation cut: report

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Gurugram-based “kirana-tech” platform 1K (formerly 1K Kirana Bazaar) had raised INR 32 crore (USD 4 million) in its extended Series B (bridge round) in July 2023 from existing investors at a 60% fall in valuation over its previous fund raise.Alpha Wave led the bridge round investing INR 16 crore, while Info Edge and Kae Capital invested INR 8 crore each. Post the latest investment, Info Edge remains the largest external stakeholder followed by Kae Capital and Alpha Wave.Six-year-old 1K Kirana Bazaar partners with neighbourhood kirana stores in smaller towns, enabling them to compete with organised retail.

Between Aug-20 and Apr-22, 1 K Kirana Bazaar had raised over USD 36 M from Kae Capital, Alpha Wave Global, Info Edge, Others.