Indian grocery startup Citymall raises $47M to challenge ultra-fast delivery giants
Indian grocery startup Citymall has raised $47 million in Series D funding led by Accel, with participation from existing investors. Citymall focuses on budget-focused grocery delivery for tier 2 and tier 3 towns in India, challenging the ultra-fast delivery giants in the market. The startup plans to use the new funds to expand its operations, improve its technology, and enhance its delivery capabilities. Citymall's business model aims to cater to the underserved grocery market in smaller Indian towns, where traditional retail and e-commerce players have yet to gain a strong foothold. The funding round highlights the growing demand for affordable and accessible grocery delivery services, particularly in the country's emerging markets.
Source: For the complete article, please visit the original source link below.
