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CityMall has raised $47 million in a Series D round led by Accel, keeping its valuation flat at around $320 million.
CityMall runs a value e-commerce platform for Tier-II and Tier-III towns. It sells fashion, home, kitchen, and packaged food at low prices, distributed via a network of local community leaders.
The deets: existing backers including Waterbridge, Citius, General Catalyst also contributed. With this, CityMall’s total funding climbs to $165 million. The company clarified this wasn’t a down round, the earlier $350M figure was only due to a different dollar-rupee rate.
The why: new funds will go into expanding its distribution reach, boosting private label products, and making its supply chain more efficient.
The company is betting on “Bharat-first” consumersas families often overpaying for basics due to limited options.
Revenues rose 22% to ₹460 crore in FY24, though losses widened to ₹159 crore with investments in tech and logistics.
Zoom out: India’s e-commerce growth is shifting beyond metros. Meesho and DealShare are chasing the same small-town shoppers, but with a $165M war chest and a lean supply chain model, CityMall is angling for a big bite of Bharat’s value-conscious market.
