Apna Mart Series C funding of ₹120 crore (approximately $12.7 million) is set to be raised by the Gurugram-based franchise-driven omnichannel grocery and FMCG chain, as publicly reported on 2026-06-30. The round is co-led by existing investors Accel India and Fundamentum, with participation from Peak XV Partners. This marks the company’s second funding event in just over a year, underscoring continued investor confidence in its Tier II and Tier III city-focused quick commerce model.
Quick Highlights
- Founders: Abhishek Singh and Chetan Garg
- Lead Investors: Accel India and Fundamentum (co-leads)
- Participating Investor: Peak XV Partners
- Investor Background: Accel India and Fundamentum are existing backers; Fundamentum is associated with Nandan Nilekani. All three investors previously participated in Apna Mart’s Series B round.
- Headquarters: Gurugram, Haryana
- Announcement Date: 30 June 2026
Funding Breakdown
Use of Funds
As publicly reported, the proceeds from the Series C round will be directed toward capital expenditure, working capital requirements, and general corporate purposes. The company’s board has passed a special resolution to issue 2,367 Series C compulsorily convertible preference shares (CCPS) at an issue price of ₹5,06,757 apiece to raise the fresh capital. Under the agreed allocation, Accel India and Fundamentum will each invest ₹55 crore, while Peak XV Partners will contribute the remaining ₹10 crore.
Funding Timeline
Prior to this round, Apna Mart secured approximately $25 million in its Series B round in March 2025, also led by Fundamentum and Accel. The current Series C raise follows that round by just over a year. Following the fresh allotment, Accel India will hold a 22.83% external stake in the company, The Fundamentum Partnership will hold 14.14%, and Peak XV Partners will hold 12.60%.
Expansion Plans
Apna Mart operates a franchise-led omnichannel quick commerce platform focused on Tier II and Tier III cities, delivering groceries in approximately 10 minutes through a neighbourhood store-led model. As publicly reported, the company’s revenue increased 2.5 times to ₹500 crore in FY26, indicating rapid scaling ahead of the fresh capital deployment. The franchise-first approach — which empowers local entrepreneurs to run outlets — remains central to the company’s geographic expansion strategy in underserved markets.
Significance
The Apna Mart Series C round signals that institutional investors remain bullish on quick commerce models that specifically target Tier II and Tier III India — a segment largely overlooked by metro-focused platforms such as Blinkit, Swiggy Instamart, and Zepto. The repeat commitment from all three existing investors — Accel India, Fundamentum, and Peak XV Partners — in a single follow-on round reflects strong conviction in Apna Mart’s franchise-led, asset-light playbook. For the sector, it highlights a growing investor thesis that the next phase of India’s quick commerce growth will be driven not by dense urban markets but by smaller cities with unmet grocery delivery demand. With operating revenue reported at ₹185 crore for FY25 and the company claiming ₹500 crore in revenue for FY26, the fresh capital arrives at a pivotal moment in Apna Mart’s scale-up journey.
These details have been verified against multiple publicly available reports as of 2026-06-30.
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Disclaimer: This report is compiled from publicly available sources and is for informational purposes only; funding figures are as publicly reported and may be subject to change.
