Funding · Commerce & Consumer Brands

Apna Mart raises ₹120 crore in Series C round

By Startup Enthusiast · 30 June 2026

What they do

Apna Mart runs a franchise-led quick commerce model delivering groceries in about 10 minutes

It raised ₹120 crore in Series C co-led by Accel India and Fundamentum, with Peak XV participating

The company doubled its valuation to ₹1,470 crore and grew revenue 2.5X to ₹500 crore in FY26

Apna Mart raised ₹120 crore in a Series C funding round.
The round was co-led by Accel India and Fundamentum, each investing ₹55 crore.
Peak XV Partners participated with ₹10 crore.
The company issued 2,367 Series C CCPS (compulsorily convertible preference shares) at ₹5,06,757 each.
Post-allotment, Accel India holds 22.83%, Fundamentum 14.14%, and Peak XV 12.60%.
The valuation doubled to ₹1,470 crore from ₹738 crore in the previous round.
Apna Mart also laid off 10% of its workforce last month and shifted its headquarters from Bengaluru to Gurugram.

The company's valuation jumped 2X from its Series B round in March 2025.
Revenue grew 2.5X to ₹500 crore in FY26, though net loss for FY25 was ₹76 crore.
The layoffs and headquarters move came alongside the funding round.
Apna Mart competes with Blinkit, Swiggy Instamart, and Zepto in the quick commerce space.

Apna Mart runs a franchise-based model where local store owners operate outlets under its brand.
It delivers groceries in about 10 minutes through these neighbourhood stores.
The company focuses on Tier II and Tier III cities in India.
It reported ₹185 crore operating revenue in FY25 and ₹500 crore in FY26.
Its net loss in FY25 was ₹76 crore; FY26 bottom line is not disclosed.

The funds will be used for capital expenditure, working capital, and general corporate purposes.

Product: An omnichannel grocery retail platform with app-based ordering and neighborhood store fulfillment.
Customers: Consumers in Tier II and Tier III cities who want fast grocery delivery.
How it makes money: It makes money from grocery and FMCG sales through a franchise-led store network and online orders.
What sets it apart: Combines online ordering with offline franchise stores and focuses on cities that larger quick-commerce players entered more slowly.
Operations: Operates in a franchise-led omnichannel model across Tier II and Tier III markets and expands through neighborhood stores.