Total amount raised
$60.2 Million
Latest funding date
01/01/2022
Location
Shopkirana has successfully raised funds over 10 rounds, with the latest being a Series C. The company is backed by 26 investors, including MITSUI SUMITOMO INSURANCE Venture Capital and Rajiv Ranjan Mishra.
Keep reading to explore the intricacies of Shopkirana's fundraising journey and the investors backing this innovative platform.
What Is Shopkirana?
Shopkirana, founded in 2015, is a B2B commerce company based in Indore, Madhya Pradesh, India. The company focuses on empowering retailers through technology and supply chain innovation, aiming to make them competitive by providing operational expertise and scale advantages.
Operating in tier II cities, Shopkirana connects retailers directly with brands, ensuring product sourcing within 48 hours. The company has a substantial employee base of 501-1000 and has been acquired by Udaan. Shopkirana partners with millions of retailers, becoming a significant go-to-market channel for products and services.
How Much Funding Has Shopkirana Raised?
- Angel Round
- Amount Raised: USD 23,485
- Date: May 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the business and develop the initial platform.
- Seed Round
- Amount Raised: USD 60,000
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Angel Round
- Amount Raised: USD 191,321
- Date: February 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2016
- Lead Investors: Lead Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand into new markets.
- Series A
- Amount Raised: USD 2,000,000
- Date: December 2018
- Lead Investors: Gemba Capital, Info Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand the retailer network.
- Series B
- Amount Raised: USD 10,000,000
- Date: August 2019
- Lead Investors: Info Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series B
- Amount Raised: USD 495,000
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and support growth.
- Series C
- Amount Raised: USD 45,100,000
- Date: January 2022
- Lead Investors: Info Edge, Oman India Joint Investment Fund, Sixth Sense Ventures
- Valuation at Round: USD 150,000,000
- Motivation Behind the Round: To expand operations to nearly 30 cities and enhance platform capabilities.
- Series C
- Amount Raised: USD 967,954
- Date: March 2025
- Lead Investors: MITSUI SUMITOMO INSURANCE Venture Capital (MSIVC)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance technological infrastructure.
Total Amount Raised: USD 59,038,760. Current Valuation: USD 150,000,000.
Key Investors
- MITSUI SUMITOMO INSURANCE Venture Capital (MSIVC)
- Details: MSIVC is a venture capital arm of Mitsui Sumitomo Insurance, focusing on strategic investments in innovative companies. They aim to support businesses that align with their parent company's insurance and financial services.
- Investment Focus Areas: Insurance, financial services, technology.
- Notable Investments: Not publicly disclosed.
- Info Edge
- Details: Info Edge is an Indian internet company that operates various online platforms, including job portals, real estate, matrimony, and education services. Founded by Sanjeev Bikhchandani, it is known for its significant investments in tech startups.
- Investment Focus Areas: Internet-based businesses, job portals, real estate, education.
- Notable Investments: Naukri.com, 99acres.com, Jeevansathi.com.
- Oman India Joint Investment Fund
- Details: This is a joint investment fund between Oman and India, focusing on high-growth companies in India. The fund aims to support businesses with large addressable markets and strong product-market fit.
- Investment Focus Areas: High-growth companies, large addressable markets, capital-efficient business models.
- Notable Investments: Not publicly disclosed.
- Sixth Sense Ventures
- Details: Sixth Sense Ventures is a venture capital firm focused on consumer-centric businesses. Founded by Nikhil Vora, the firm aims to invest in companies that disrupt traditional consumer markets.
- Investment Focus Areas: Consumer-centric businesses, FMCG, retail.
- Notable Investments: Soothe Healthcare, LEAP India, Hindustan Foods.
- Gemba Capital
- Details: Gemba Capital is a venture capital firm that invests in early-stage technology startups. They focus on companies that have the potential to scale rapidly and disrupt their respective industries.
- Investment Focus Areas: Technology startups, early-stage investments, scalable businesses.
- Notable Investments: Not publicly disclosed.
What's Next for Shopkirana?
Shopkirana stands at the cusp of significant growth opportunities, driven by its plans to expand to nearly 30 cities and enhance its B2B e-commerce platform. The company aims to empower kirana stores with just-in-time sourcing and increase product availability, tapping into a $500 billion market. This expansion is bolstered by the recent $38 million Series C funding, reflecting strong investor confidence.
Future fundraising opportunities seem promising as Shopkirana scales its operations and invests in technology and human capital. The company may attract additional venture capital or strategic investments to support its ambitious growth plans. However, challenges such as intense competition from well-funded players and maintaining service quality across diverse regions could pose hurdles.
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