CityMall raises $47 mn funding to build value e-commerce for Bharat

Currently serving over 60 cities across Delhi NCR, Uttar Pradesh, Haryana, Uttarakhand, and Bihar, CityMall has been on a 2x year-over-year growth trajectory over the past few years

E-commerce firm CityMall has raised $47 million in its Series D funding. The round was led by Accel, with participation from existing investors including Waterbridge Ventures, Citius, General Catalyst, Elevation Capital, Norwest Venture Partners, and Jungle Ventures. 

 

The fresh capital will be deployed to double down on its mission of building value commerce for Bharat. This includes driving deeper penetration in existing regions, expanding into adjacent geographies, and continuing to scale the lowest-cost distribution infrastructure in the country. 

 

The company will strengthen its portfolio of private labels and brand partnerships, creating  value for mass-market consumers. With this round, the company’s cumulative funding has reached $165 million. The new valuation of the company after this funding is about $320 million, according to the sources.

 

 

"CityMall was born from a simple belief—that the next wave of India's growth will be shaped in its small towns and communities. We see ourselves as a Bharat-first company,” said Angad Kikla, co-founder and CEO of CityMall. “In small towns across the country, families have been overpaying for everyday essentials simply because they had limited choices. That's not just a business gap; it's a human problem that deserves a human solution.”

 

India’s $125 Billion E-commerce sector has largely been designed for convenience-first metro consumers. The company said it is built on expensive infrastructure, high customer acquisition costs, and assortments tailored to urban preferences. Bharat, however, requires a very different approach.

 

Founded in 2019 by Angad Kikla, Naisheel Verdhan, and Rahul Gill, CityMall is addressing this gap by creating a value-first model for India’s Tier II, III, and IV towns. 

 

“We're not trying to replicate what works in metros; we're building something entirely new for the next India,” said Kikla.

 

The company has built the country’s lowest-cost distribution network - up to 3-times more efficient than traditional e-commerce players. It is establishing leadership in mass-market categories through a strong and growing private label and regional portfolio of brands.Currently serving over 60 cities across Delhi NCR, Uttar Pradesh, Haryana, Uttarakhand, and Bihar, CityMall has been on a 2-times year-over-year growth trajectory over the past few years.

 

“CityMall has built a low-cost supply chain model that makes e-commerce economically viable for India's underserved communities and delivers true value to the mass market consumers,” said Rachit Parekh and Pratik Agarwal, Partners at Accel

 

Beyond geographic expansion, CityMall will invest heavily in attracting and nurturing top talent across technology, product, and operations functions.