CityMall, a social e-commerce platform, on Thursday said it has raised $11 million (Rs 80 crore) as part of its Series A round led by Accel.
Existing investors Elevation Capital and WaterBridge Ventures also participated in this round, said CityMall.
Operated by Cmunity Innovations Pvt Ltd, the platform will use the fresh capital to strengthen its supply chain and logistics network.
A part of the capital will also be deployed to expand footprint to 20 new small towns and cities.
Prior to this funding, CityMall raised $3 million (Rs 22 crore) in its seed round led by Elevation Capital last year.
Since the seed round, it has achieved 25 times growth in revenues and built a network of more than 20,000 community leaders that cater to over 2,00,000 customers, CityMall said.
The company also established presence in smaller towns and cities such as Rewari, Dharuhera, Pataudi, Sonipat, Bahadurgah, Jhajjar, Rohtak and Panipat during this period.
CityMall was founded by Angad Kikla and Naisheel Verdhan in 2019. It seeks to create a chain of virtual stores on WhatsApp for the next 300 million internet users in India through a network of neighbourhood community leaders.
The quick Series A funding in CityMall indicates continued interest in the broader social commerce space, with several transactions having taken place in the last couple of years.
Meesho is the most heavily funded startup in the space. It bagged $125 million funding in a round led by South African tech investor Naspers in August 2019.
Social networking giant Facebook, which had invested in Meesho earlier, also participated in that round.
In November last year, GlowRoad raised Rs 52 crore from existing investors.
Earlier in January, ShopG, a social commerce platform that focuses on micro-entrepreneur community leaders, raised a seed round led by Orios Venture Partners and RPSG Ventures.
