Apna Mart Series C funding of ₹120 crore (~$12.7 million) has officially closed, as publicly reported on 2026-07-30, with the round co-led by existing investors Accel India and Fundamentum, and participation from Peak XV Partners. The Gurugram-based franchise-led omnichannel grocery and FMCG startup has secured the capital to strengthen its working capital and accelerate national expansion. The round is the company’s second funding event in just over a year.
Quick Highlights
- Founders: Abhishek Singh (Co-Founder & CEO) and Chetan Garg (Co-Founder & COO)
- Lead Investors: Accel India and Fundamentum (co-led)
- Participating Investor: Peak XV Partners
- Investor Breakdown: Accel India — ₹55 Cr; Fundamentum — ₹55 Cr; Peak XV Partners — ₹10 Cr
- Investor Background: All three are existing backers of the company, also co-leading its Series B round in March 2025
- Valuation: Approximately ₹1,470 Cr — nearly double the previous valuation of ₹738 Cr, as publicly reported
- Headquarters: Gurugram, Haryana
- Announcement Date: 30 July 2026
Funding Breakdown
Use of Funds
As publicly reported, the fresh capital will be deployed towards capital expenditure, strengthening working capital, and meeting general corporate requirements as Apna Mart scales its operations across India. The company operates a franchise-led, neighbourhood store-driven quick commerce model that targets grocery delivery in approximately 10 minutes, and the new funds are intended to support that infrastructure at a national level.
Funding Timeline
Apna Mart raised approximately $25 million in a Series B round led by Fundamentum and Accel in March 2025. The current Series C of ₹120 crore follows just over a year later, structured as 2,367 Series C compulsorily convertible preference shares (CCPS) issued at ₹5,06,757 per share, as per regulatory filings cited in public reports. Following the allotment, Accel India holds the largest external stake at 22.83%, followed by Fundamentum at 14.14%, and Peak XV Partners at 12.60%.
Expansion Plans
As publicly reported, Apna Mart intends to accelerate its expansion into more markets across India, with a continued focus on Tier II and Tier III cities — the underserved segments where the company’s neighbourhood store-led model is designed to compete against larger metro-focused quick commerce platforms. The company recently reported that its operating revenue grew 2.5 times to ₹500 crore in FY26, signalling the commercial foundation for this next phase of geographic scale-up.
Significance
The Series C is a strong vote of confidence from all three existing institutional backers, who collectively doubled down rather than bringing in new external capital — an uncommon signal of conviction in a market where quick commerce remains fiercely contested. The near-doubling of valuation from ₹738 crore to approximately ₹1,470 crore in just over a year reflects the rapid revenue growth Apna Mart has logged, even as profitability remains a work in progress. For the broader quick commerce sector, this round underscores that the franchise-led, Tier II and III-focused model is attracting serious capital as an alternative to the metro-centric, dark-store playbooks of Blinkit, Swiggy Instamart, and Zepto. Apna Mart’s trajectory suggests investors see genuine differentiation in bringing rapid grocery delivery to India’s smaller cities at scale.
These details have been verified against multiple publicly available reports as of 2026-07-30.
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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.
