Citymall Raises $47M to Take on India’s Quick-Commerce Giants
Indian grocery startup Citymall raises $47M to challenge ultra-fast delivery giants and target value-conscious shoppers.
Matilda
Citymall Raises $47M to Take on India’s Quick-Commerce Giants Indian grocery startup Citymall raises $47M to challenge ultra-fast delivery giants Indian grocery startup Citymall raises $47M to challenge ultra-fast delivery giants and redefine how value-conscious shoppers in smaller towns buy groceries. The Series D funding was led by Accel, with continued support from WaterBridge Ventures, Citius, General Catalyst, Elevation Capital, Norwest Venture Partners, and Jungle Ventures. Image Credits:Citymall This new round comes three years after Citymall’s $75 million Series C led by Norwest Venture Partners. Despite raising its total funding to $165 million, the company’s valuation has stayed flat at around $320 million. Investors said this reflects the cooling market conditions compared to the bullish period of its earlier round. Why investors are betting on Citymall According to sources, Citymall’s valuation is based on a nearly 4x multiple of its past year’s revenue. While the number hasn’t jumped, backers remain optimistic. Accel’s Pratik Agarwal sai…
