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Apna Mart Raises Rs 120 Crore Series C as Its Valuation Doubles to Rs 1,470 Crore
Apna Mart is a grocery startup. A startup is a young company that is still growing. Apna Mart is raising new money again. It runs grocery and FMCG shops that other people own and run. FMCG (Fast-Moving Consumer Goods) means everyday things like food, soap, and cleaning items. The company will raise Rs 120 crore. That is about $12.7 million. This money comes in a round called Series C. A round is one time a startup collects money from investors. Series C comes after the earlier rounds, Series A and Series B. Two old backers, Accel India and Fundamentum, are leading this round. A new backer, Peak XV Partners, is joining too.
The deal, in plain numbers
A news website called Entrackr broke this story first. Apna Mart’s board (the small group that runs the company) agreed to sell 2,367 new shares. A share is a small piece of a company that you can own. These shares are a special kind, called compulsorily convertible preference shares. That means they turn into normal shares later. Each one costs Rs 5,06,757. In total this brings in Rs 120 crore of new money. Accel India and Fundamentum each put in Rs 55 crore. Peak XV Partners puts in the last Rs 10 crore.
This round about doubles the company’s valuation. Valuation is how much money investors think the whole company is worth. Entrackr says the valuation jumps about 2 times, to Rs 1,470 crore. Before this, it was Rs 738 crore. Apna Mart will use the new money to buy things it needs, to pay for daily costs, and for other company needs. The cash needed for daily costs is called working capital.
| Key fact | Detail (per Entrackr) |
|---|---|
| Round | Series C — Rs 120 crore (~$12.7 million) |
| Lead investors | Accel India and Fundamentum (Rs 55 crore each); Peak XV (Rs 10 crore) |
| New valuation | ~Rs 1,470 crore (about 2x the earlier Rs 738 crore) |
| Founders | Abhishek Singh and Chetan Garg |
| Model | Franchise-led omnichannel grocery, Tier II and III cities |
| FY25 revenue / net loss | Rs 185 crore / Rs 76 crore loss |
| Claimed FY26 revenue | Rs 500 crore (grew ~2.5x) |
What Apna Mart does
Two people started Apna Mart: Abhishek Singh and Chetan Garg. The company sells groceries in two ways. You can buy online, or you can shop at a small store near your home. Selling in both ways is called omnichannel. The stores are run by other people who pay to use the Apna Mart name. This is called a franchise. Apna Mart works mostly in smaller cities and towns. These are called Tier II and Tier III cities, not the big metro cities. The company says it can deliver groceries in about 10 minutes from a nearby store. It competes with Blinkit, Swiggy Instamart, and Zepto.
This is the company’s second money round in just over a year. It raised about $25 million in its Series B round in March last year. After this new round, Accel India is still the biggest outside owner, with 22.83%. Fundamentum comes next with 14.14%. Peak XV has 12.60%.
Growth, but with losses to manage
Apna Mart is growing fast. But it is also spending a lot. In the year FY25, it earned Rs 185 crore from its sales. But it had a net loss of Rs 76 crore. A net loss means the company spent more than it earned. The company says its sales grew about 2.5 times to Rs 500 crore in FY26. But it did not say if it made a profit or loss in FY26. Last month, it let go of 10% of its workers. It also moved its main office from Bengaluru to Gurugram. These are signs that it is trying to cut costs while it grows.
Why it matters (especially for India and founders)
Quick commerce means selling things and delivering them very fast. It is one of the biggest startup fights in India. But most big companies focus on the large metro cities. Apna Mart has a different plan. It wants to win in smaller cities. It uses a franchise model, so local store owners share the cost and the risk. Doubling its valuation shows that investors like this plan. Founders can learn a lot from this story. Fast sales growth can bring in money. But losses and job cuts show that making a profit in grocery is hard. It also fits a bigger trend of India’s policy and consumer shifts changing how goods move and sell.
FAQ
How much did Apna Mart raise? Rs 120 crore. That is about $12.7 million. It came in a Series C round.
What is its new valuation? About Rs 1,470 crore. That is roughly double the earlier Rs 738 crore. These numbers are Entrackr’s estimates.
Is the company profitable? Not yet. It had a Rs 76 crore net loss in FY25. It did not share its profit or loss for FY26.
The takeaway
Apna Mart’s Rs 120 crore Series C round doubles its valuation. It also grows its bet on fast grocery delivery in smaller Indian cities. Fast sales growth brought in fresh money. But losses and recent job cuts show the road to profit is still hard.
Source: Entrackr.
