April 30, 2021

Grocery retail aggregator Kirana King raises Rs 7 crore in a pre-series- A Spherical from RVCF

NEW DELHI: Jaipur primarily based grocery retail aggregator Kirana King mentioned on Monday it has raised Rs 7 crore from Rajasthan Enterprise Capital Fund (RVCF) in a Pre-Collection A spherical.

Kirana King began its retail aggregation operations in 2017 and has a grocery retail community of greater than 200 shops in Jaipur, Rajasthan.

The corporate mentioned it now goals to develop its operations in numerous components of Rajasthan the place it targets attaining 1000 shops by the top of 2021.

Kirana King mentioned it’s aiming to attain 4 occasions income progress in the course of the ongoing monetary yr compared to final yr.

The corporate supplies providers to traditional kirana shops via its RaaS (retail as a service) mannequin which features a mixture of retailer transformation, provide chain and advertising and marketing providers for these shops amongst shoppers to drive extra footfalls, digital options, ecommerce stack, and coaching and improvement options for the kirana eco-system.

Anup Kumar, founder and CEO Of Kirana King mentioned as soon as Kirana King began with its RaaS interventions, the resistance ranges of kirana retailer house owners went down and the model witnessed queries from retailer house owners from ‘far-flung’ areas of India. “Kirana King seeks to make use of the just lately raised funds to develop its retail community, manpower, enhancement and improvement of know-how,” he added.

Gaurav Chowdhry, VP at RVCF mentioned India has been witnessing substantial adjustments within the area of kirana or grocery retail. “There aren’t solely sure giant company homes eying the house but additionally the emergence of few robust regional gamers like Kirana King who’re backed with large on the bottom expertise, the benefit of know-how…For an early-stage investor like us, Kirana King appears to be like very promising with its RaaS USP,” he added.