[Funding Alert] Tech-Backed Kirana Chain 'Express Stores' Secures Rs 8 cr Seed Funding

The Gurugram-based startup will utilise the funds for product-market fit, initial growth, talent addition, improving supply chain, and technology.
[Funding Alert] Tech-Backed Kirana Chain 'Express Stores' Secures Rs 8 cr Seed Funding

Express Stores, a technology-backed branded omnichannel chain of Bharat’s kiranas, has secured a seed funding of Rs 8 crore. This funding round has been led by early-stage venture capital firm Venture Highway (founded by Neeraj Arora, ex-Whatsapp and Samir Sood, ex-Google).

The round has also seen participation from marquee individual investors, including Kunal Bahl and Rohit Bansal (Snapdeal), Anupam Mittal (People Group), and Amit Singhal (Google) among others. 

The Gurugram-based startup will utilise the funds for product-market fit, initial growth, talent addition, improving supply chain, and technology.

Apoorv Jain, CEO and Co-Founder, Express Stores, said, “We believe the next big opportunity lies in the modernisation of kiranas, a segment which continues to be largely unorganised. Consumers need modern shopping experience in their neighbourhood while retailers need hassle-free, profitable business operations. Express Stores, with its 360-degree solution, aims to lead this change.”

Express Stores was founded by Apoorv Jain and Kartik Gupta in 2019. The company aims to be the ‘the most preferred daily needs store for the neighbourhood’. It claims that it has achieved product-market fit with a unique, scalable, technologically driven, and contribution margins positive business model.

Samir Sood, Founder, Venture Highway, stated, “We are excited to partner with Express Stores as they represent the ambition of next-gen Indian founders solving for Bharat. Grocery is an overwhelmingly large market, and the most important thing for a startup in this space is to have a clear sight of positive unit economics. We are confident that Apoorv, Kartik, and the team are doing exactly that while scaling fast.

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