VilCart, a Bengaluru-based tech startup that enables retailers in villages and small towns to order consumer goods digitally, announced that it has raised bridge funding from new and existing investors.
Investors that took part in the funding round include N S Parthasarathy, ex-COO and Co-founder of Mindtree; Dilipkumar Khandelwal, Managing Director and Global Head of Technology Centre, Deutsche Bank and ex-MD, SAP Labs India; Anand Nichani, Board Member, Garuda Polyflex; and Anath Ravi, ex-Sr VP, Reliance Industries Ltd. Current investors Prashanth Prakash, Accel Partners, Anand Banka, ex-Director of EY and Vedanta, and Kalit Kapoor reinvested in this round.
VilCart will utilise the funds to boost expansion. The company said it has plans to upgrade technology, and hire new talent.
“We are helping small brands get a wider greater reach with tech. Some of them are rural brands, which can now reach many cities across three states. During the COVID-19 crisis, we helped villages in essentials supplies,” said Prasanna Kumar, Founder of VilCart.
The company also wants to start a ‘Farmer to Farmer’ business, and wants to buy from farmers in one geography and sell it to those in another geography.
Founded in 2018 by Prasanna Kumar, Mahesh Bhat, Rajasekhar, and Amith S Mali, VilCart is a B2B ecommerce company which aims to revolutionise the retail industry in rural India through technology, supply chain, and logistics facilities.
The startup started the business from one district, and has now rapidly expanded to 10 districts in Karnataka, including Mandya, Kolar, and Bengaluru Rural. Currently, the startup is catering to the needs of over 5,000 kirana stores across 1,000+ villages. Earlier, it had raised Rs 2 crore as seed capital.
“Even a small change in the way we work can create a big impact on how we do business with them. This is where the people we employ makes a difference. They understand the mindset of the business owners and help us grow our business,” Prasanna added.
VilCart operates primarily in Karnataka and is in the process of setting up operations in Andhra Pradesh and Tamil Nadu, which will commence on August 1.
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