Indian Economy News

1K Kirana raises $25 mn, aims to serve over 10 mn consumers in 12 months

1K Kirana, a hyperlocal shopping and distribution network, has raised US$ 25 million in a Series-B funding round led by Alpha Wave Ventures, Info Edge Ventures, and Kae Capital. The round's investors included manufacturing firm Zetwerk and tech-enabled automobile service firm GoMechanic.

Thousands of non-urban Indians have already been able to shop online for the first time through the 1K Mall app. The 1K team is building an iconic company that is transforming how non-urban India shops for daily necessities by expanding their options with higher quality, more affordable options, said Ms. Kitty Agarwal, a partner at Info Edge Ventures.

In the next 12 months, the company aims to serve more than 10 million consumers across 100 districts via 5,000 franchise stores, said 1K's founding team.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.