Convenience store chain AMPM has secured Rs 1.6 crore from Agility Venture Partners. The company aims to expand to more cities by end of 2021.
At present, the Haryana-based firm has a limited play in the state with AMPM present only in five cities, including Karnal, Panipat, Gurugram, and Yamunanagar.
Shubham Gupta, Founder and Managing Director, AMPM, said, “We're exhilarated! The initial funding agreement was only for Rs 1 crore, but we saw an over-subscription of Rs 60 lakh. This support and confidence have made us more optimistic of our success in the coming years.”
“Right now, we're live in five cities including Karnal, Panipat, Gurugram, and Yamunanagar. We aim to expand to 10 cities by the end of 2021, with at least 15 live stores across northern India. This will expand to 15+ cities in the next year,” he further added.
AMPM’s stores are modeled around Japan’s 7-Eleven chain of convenience stores that are open 24 hours a day. The stores sell products across categories such as grocery, bakery, confectionery, stationery, pharmacy, and packaged food and beverages.
AMPM stores also have a 24 hours live kitchen cafe with a sit-out, along with delivery.