Apna Mart Secures Rs 120 Crore in Series C Funding

Apna Mart has successfully raised Rs 120 crore (approximately $12.7 million) in a Series C investment round, led by existing backers Accel India and Fundamentum, with additional support from Peak XV Partners. The new funds will be allocated towards enhancing the company’s working capital and facilitating its growth throughout India. The legal advisory for this transaction was provided by VERTICES PARTNERS, serving as counsel to Apna Mart. Startup Superb had previously reported details of the funding round in June after reviewing the company’s regulatory documents.

Valuation and Company Background

This funding round has positioned the Gurugram-based startup at a valuation of approximately Rs 1,470 crore, which is nearly double its last recorded value of Rs 738 crore, according to Startup Superb’s analysis. Apna Mart was founded by Abhishek Singh and Chetan Garg and focuses on an omnichannel quick commerce platform primarily for Tier II and Tier III cities. The startup utilises a model centred around neighbourhood stores to deliver groceries, competing against platforms like Blinkit, Swiggy Instamart, and Zepto.

Previous Funding Rounds and Financial Performance

The Series C funding arrives over a year after Apna Mart raised about $25 million in its Series B investment round, which was also led by Accel and Fundamentum. Recently, the company disclosed that its operating revenue tripled to Rs 500 crore in FY26, though it did not reveal its net profit figures. Previously, in FY25, the company reported an operating revenue of Rs 185 crore coupled with a net loss of Rs 76 crore.

Workforce Changes and Relocation

This year, Apna Mart also made the difficult decision to reduce its workforce by approximately 10% and transferred its headquarters from Bengaluru to Gurugram.