AgenciesNEW DELHI: Jaipur based grocery retail aggregator Kirana King said on Monday it has raised Rs 7 crore from Rajasthan Venture Capital Fund (RVCF) in a Pre-Series A round.
Kirana King started its retail aggregation operations in 2017 and has a grocery retail network of more than 200 stores in Jaipur, Rajasthan.
The company said it now aims to expand its operations in various parts of Rajasthan where it targets achieving 1000 stores by the end of 2021.
Kirana King said it is aiming to achieve four times revenue growth during the ongoing financial year in comparison to last year.
The company provides services to conventional kirana stores through its RaaS (retail as a service) model which includes a combination of store transformation, supply chain and marketing services for these stores among consumers to drive more footfalls, digital solutions, ecommerce stack, and training and development solutions for the kirana eco-system.
Anup Kumar, founder and CEO Of Kirana King said once Kirana King started with its RaaS interventions, the resistance levels of kirana store owners went down and the brand witnessed queries from store owners from 'far-flung' areas of India. "Kirana King seeks to use the recently raised funds to expand its retail network, manpower, enhancement and development of technology,” he added.
Gaurav Chowdhry, VP at RVCF said India has been witnessing substantial changes in the field of kirana or grocery retail. "There are not only certain large corporate houses eying the space but also the emergence of few strong regional players like Kirana King who are backed with huge on the ground experience, the advantage of technology...For an early-stage investor like us, Kirana King looks very promising with its RaaS USP," he added.
Kirana King started its retail aggregation operations in 2017 and has a grocery retail network of more than 200 stores in Jaipur, Rajasthan.
The company said it now aims to expand its operations in various parts of Rajasthan where it targets achieving 1000 stores by the end of 2021.
Kirana King said it is aiming to achieve four times revenue growth during the ongoing financial year in comparison to last year.
The company provides services to conventional kirana stores through its RaaS (retail as a service) model which includes a combination of store transformation, supply chain and marketing services for these stores among consumers to drive more footfalls, digital solutions, ecommerce stack, and training and development solutions for the kirana eco-system.
Anup Kumar, founder and CEO Of Kirana King said once Kirana King started with its RaaS interventions, the resistance levels of kirana store owners went down and the brand witnessed queries from store owners from 'far-flung' areas of India. "Kirana King seeks to use the recently raised funds to expand its retail network, manpower, enhancement and development of technology,” he added.
Gaurav Chowdhry, VP at RVCF said India has been witnessing substantial changes in the field of kirana or grocery retail. "There are not only certain large corporate houses eying the space but also the emergence of few strong regional players like Kirana King who are backed with huge on the ground experience, the advantage of technology...For an early-stage investor like us, Kirana King looks very promising with its RaaS USP," he added.
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