Total amount raised
₹1.6 Billions
Latest funding date
01/01/2023
Location
Vilcart has successfully raised funding through multiple rounds, with its most recent being a Series A round. The company focuses on bridging the supply chain gap in rural India by connecting manufacturers, rural SMEs, and Farmer Producer Organizations directly to local kirana stores.
Keep reading to explore the intricacies of Vilcart's fundraising journey and the investors backing this innovative platform.
What Is Vilcart?
Vilcart, founded in May 2018, is headquartered in Bengaluru, Karnataka, India. The company was established by Prasanna Kumar.
Vilcart focuses on bridging the supply chain gap in rural India by connecting manufacturers, rural SMEs, and Farmer Producer Organizations directly to local kirana stores. This initiative aims to empower rural store owners with consistent access to a wide variety of products, reducing operational costs and fostering local economies.
Currently, Vilcart employs between 251 and 500 people, working towards creating a seamless rural-to-rural supply chain. Their services include tech-enabled supply chains, doorstep delivery for B2B kirana stores, a rural e-commerce portal, and a farmer-to-farmer supply chain.
How Much Funding Has Vilcart Raised?
- Seed Round
- Amount Raised: ₹150M
- Date: November 2021
- Lead Investors: Nabventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of Vilcart's rural supply chain and e-commerce operations.
- Series A
- Amount Raised: $18 million
- Date: January 2023
- Lead Investors: Asia Impact SA, Nabventures, Texterity Pvt. Ltd.
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations across southern India, launch new products, and support initiatives for rural women entrepreneurs.
Total Amount Raised: $18 million + ₹150M
Current Valuation: Not publicly disclosed
Key Investors
- Asia Impact SA
- Details: Asia Impact SA is an investment firm that focuses on supporting companies that contribute to the growth and development of rural ecosystems. They led the Series A funding round for Vilcart.
- Investment Focus Areas: Rural development, technology, ecosystem support
- Notable Investments: Not publicly disclosed
- Nabventures
- Details: Nabventures is a venture capital fund backed by the National Bank for Agriculture and Rural Development (NABARD). They focus on agritech, rural development, and related sectors.
- Investment Focus Areas: Agriculture, food, technology
- Notable Investments: Not publicly disclosed
- Texterity Pvt. Ltd.
- Details: Texterity Pvt. Ltd. is a private investment firm that participated in Vilcart's Series A funding round. They hold a minor stake in the company.
- Investment Focus Areas: Technology, digital solutions
- Notable Investments: Not publicly disclosed
The information requested about other major investors and their details was not found in the provided sources.
What's Next for Vilcart?
Vilcart is poised to capitalize on the vast opportunities in rural India, aiming to expand its operations across southern India by 2024. With a focus on digitalizing kirana stores and supporting rural women entrepreneurs, the company is set to enhance its technology offerings, particularly AI/ML capabilities in their mobile app. This expansion could significantly increase their market reach and revenue, building on their current network of 85,000 kirana stores.
Given the substantial interest from institutional investors in tech startups focused on rural markets, Vilcart is well-positioned for future fundraising opportunities. The successful Series A round suggests potential for Series B and beyond, especially if they continue to show strong growth and expansion. This could attract further investments, enabling them to scale operations and introduce new products.
However, Vilcart may face challenges such as scaling operations across diverse rural areas, competition from other rural-focused tech startups, and ensuring technology adoption by rural store owners. Managing logistics and supply chain complexities in rural regions will also be crucial. Despite these challenges, the company's strategic focus and strong investor backing position it well for future growth and success.
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