.png)
Total amount raised
$30M
Latest funding date
2025-02-07
Location
Vilcart has successfully raised funding over three rounds, with the latest being a Series A round. The company is backed by six investors, including Spark Capital and Nabventures.
What Is Vilcart?
Vilcart is a private company based in Bengaluru, Karnataka, India. Operating in the e-commerce, retail, and software industries, the company employs between 251 and 500 people.
Vilcart connects rural manufacturers, Farmer Producer Organizations (FPOs), and kirana stores through a direct supply chain. This approach helps rural businesses and local economies by streamlining their supply chains and enhancing market reach.
How Much Funding Has Vilcart Raised?
- Seed Round
- Amount Raised: Approximately USD 240,000 (Rs 2 crore)
- Date: 2019
- Lead Investors: Polyflex India and others (angel investors)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial platform development and early operations.
- Bridge Round
- Amount Raised: Not publicly disclosed
- Date: July 2020
- Lead Investors: N S Parthasarathy (ex-COO, Mindtree), Dilipkumar Khandelwal (Deutsche Bank), Anand Nichani, Anath Ravi; existing investors Prashanth Prakash (Accel Partners), Anand Banka, Kalit Kapoor also participated
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund early growth and expand rural distribution operations.
- Pre-Series A / Seed Round
- Amount Raised: USD 2,000,000 (Rs 15 crore)
- Date: November 2021
- Lead Investors: Nabventures Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support platform growth and rural market expansion.
- Series A Round
- Amount Raised: USD 18,000,000 (Rs 144 crore)
- Date: January 2023
- Lead Investors: Asia Impact SA
- Participants: Nabventures Fund, 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.
- Bridge Round (Bridge-II)
- Amount Raised: USD 10,000,000
- Date: February 7, 2025
- Lead Investors: AI-X B.V., Spark Capital
- Participants: Nabventures (existing investor)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To boost private label expansion, accelerate rural commerce growth, and support the Own Brands initiative (hygienically packed groceries and edible oil for rural families).
Total Amount Raised: At least USD 30,000,000 based on disclosed funding (earlier rounds prior to November 2021 had undisclosed amounts). Current Valuation: Not publicly disclosed.
Key Investors
- Asia Impact SA
- Details: Asia Impact SA is a Luxembourg-based investment advisor focused on impact investments in India and Southeast Asia, with teams in Switzerland, India, and Southeast Asia. It led Vilcart's January 2023 Series A round.
- Investment Focus Areas: Financial inclusion, rural ecosystems, climate resilience, women entrepreneurship.
- Notable Investments: Not publicly disclosed beyond Vilcart.
- Nabventures Fund
- Details: Nabventures Fund is a venture capital fund backed by NABARD (National Bank for Agriculture and Rural Development) that supports startups in the agritech and rural development sectors. It has participated in multiple Vilcart rounds.
- Investment Focus Areas: Agritech, rural development, technology.
- Notable Investments: Not publicly disclosed beyond Vilcart.
- AI-X B.V.
- Details: AI-X B.V. is a venture capital firm incorporated in 2019 and based in the Netherlands. It led the February 2025 bridge round in Vilcart alongside Spark Capital.
- Investment Focus Areas: Enterprise applications, retail, food and agriculture tech; primarily Series A stage in India.
- Notable Investments: Vilcart is the only publicly disclosed portfolio company as of 2025.
- Spark Capital
- Details: Spark Capital is an India-based boutique financial services firm founded in 2001, offering investment banking, wealth advisory, and asset management services. It co-led Vilcart's February 2025 bridge round.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Not publicly disclosed beyond Vilcart.
- Texterity Pvt. Ltd.
- Details: Texterity Pvt. Ltd. is a private investment firm that participated in Vilcart's January 2023 Series A round.
- Investment Focus Areas: Technology, digital solutions.
- Notable Investments: Not publicly disclosed.
What's Next for Vilcart?
Vilcart is poised to capitalize on the vast opportunities in the rural e-commerce sector. With plans to expand operations across southern India by 2024, the company aims to introduce new products and support initiatives for rural women entrepreneurs. The potential is immense, given their current reach of 85,000 kirana stores in 30,000 villages and significant revenue growth.
Future fundraising opportunities look promising as institutional investors show increasing interest in tech startups targeting rural markets. Vilcart's successful Series A round indicates a favorable environment for further investment, potentially leading to Series B and beyond. However, challenges such as scaling operations, managing logistics, and competition from other tech startups remain significant hurdles.
Use Clay to Get Funding Data
Sales professionals, leverage Clay's platform to access comprehensive fundraising data on companies like Vilcart and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
