Franchisee-driven quick commerce startup Apna Mart is looking to raise INR 214.3 Cr (around $25 Mn) in a funding round led by Nandan Nilekani-led Fundamentum Partnership.
Existing investors, including Peak XV Partners and Sparrow Capital, will also participate in the funding round, with Accel India joining Apna Mart’s cap table.
The transaction will be a mix of equity and debt. While INR 176.3 Cr will be in the form of equity infusion into the company, the rest will be debt.
Fundamentum Partnership will lead the round with INR 84 Cr investment, followed by Accel India VII (Mauritius) Limited at INR 61 Cr and Peak XV Partners at INR 17.4 Cr.
Meanwhile, Sparrow Capital, Disruptors Capital and Alteria Capital will inject INR 4 Cr, INR 3.1 Cr and INR 2.4 Cr, respectively.
Apna Mart plans to use the proceeds to meet its general corporate requirements.
The development was first reported by Entrackr.
Founded in 2022 by Abhishek Singh and Chetan Garg, Apna Mart delivers…
