STARTUPS

CityMall Raises $3 Mn Funding Led by Elevation Capital

Social e-commerce startup, CityMall reported that it has raised a funding of $3 million led by Elevation Capital along with the participation from venture capital firm, Waterbridge Ventures and online funding platform, LetsVenture.
CityMall was founded back in 2019 Angad Kikla and Naisheel Verdhan and has developed a community commerce platform for everyday products including lifestyle and household for next 300 million internet users.
The startup will use the proceeds from the fresh funding for building network of community leaders and to expand its supply chains in Tier III and IV cities in India. It is planning to deepen its supply chains in Tier II, III, and IV cities and introduce new categories in its offerings like fresh, grocery, FMCG and others.
Angad Kikla, Co-Founder, CityMall on targeting the next 300 million internet users said, “The next 300 million Internet users… have a fundamentally different behavior than the first 100 million users. They are native to social platforms like WhatsApp and prefer buying from someone they trust.”
“Apart from being vernacular, our app gamifies the journey of community leaders to help them grow their business on CityMall,” said Naisheel Verdhan, Co-Founder, CityMall.
CityMall has achieved a 12x growth in its revenue in past six months and has also established presence in smaller towns and cities of the country including the Rewari, Dharuhera, Sonipat, Pataudi and Bahadurgarh.Social e-commerce startup, Citymall reported that it has raised a funding of $3 million led by Elevation Capital along with the participation from venture capital firm, Waterbridge Ventures and online funding platform, LetsVenture.
Citymall was founded back in 2019 Angad Kikla and Naisheel Verdhan and has developed a community commerce platform for everyday products including lifestyle and household for next 300 million internet users.
The startup will use the proceeds from the fresh funding for building network of community leaders and to expand its supply chains in Tier III and IV cities in India. It is planning to deepen its supply chains in Tier II, III, and IV cities and introduce new categories in its offerings like fresh, grocery, FMCG and others.
Angad Kikla, Co-Founder, Citymall on targeting the next 300 million internet users said, “The next 300 million Internet users… have a fundamentally different behavior than the first 100 million users. They are native to social platforms like WhatsApp and prefer buying from someone they trust.”
“Apart from being vernacular, our app gamifies the journey of community leaders to help them grow their business on CityMall,” said Naisheel Verdhan, Co-Founder, Citymall.
CityMall has achieved a 12x growth in its revenue in past six months and has also established presence in smaller towns and cities of the country including the Rewari, Dharuhera, Sonipat, Pataudi and Bahadurgarh.

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