1K Kirana raised $25M from various investors

1K Kirana, a Gurugram-based startup that is a distribution network or a shopping platform that has raised around $25 million in its series B funding round. This round of funding was led by Alpha Wave Ventures, Info Edge Ventures, and Kae Capital.

1K Kirana was founded by Kumar Sangeetesh, Sachin Sharma, and Abhishek Halder in the year 2018. The company has a pre-planned vision to serve the demand of the consumers of India’s smaller cities and towns. With the growing demand of their country’s requirements, the company disclosed its first franchise store in early 2020.

1K Kirana was backed by $7 million Series A funding in August 2021. The company said it is been serving more than a million consumers in more than 25 districts across Delhi, Haryana, Rajasthan, and Uttar Pradesh through a network of more than 1,000 franchise stores.

The company is aiming to grow with 10 million customers across 100 districts in over 12 upcoming months.

EXECUTIVE OPINION:

Navroz D Udwadia, Founder and Partner, Alpha Wave, said, “Sangeetesh, Abhishek, and Sachin have built a business that combines strong growth with attractive unit economics. We are excited to partner with them as they bring a modern retail experience to underserved consumers in India’s $600 billion+ grocery market.”

“The 1K Mall app has already enabled lakhs of non-urban Indians to shop online for the first time. We believe the 1K team is building an iconic company that is transforming how non-urban India shops for their daily needs by widening their choices with higher quality, affordable options,” added Kitty Agarwal, Partner, Info Edge Ventures.

“Within a span of two years, they have emerged as the leader in B2B2C grocery e-commerce with very strong unit economics. We continue to believe in the vision of 1K to bring consumer aspirations closer to them in the smaller cities of Bharat,” said Gaurav Chaturvedi, Partner at Kae Capital.

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1K Kirana raised $25M from various investors

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