[Funding alert] 1K Kirana Bazaar raises $7M in Series A round from Info Edge, FalconEdge, others
Summary
The round also saw participation from existing investor Kae Capital, and angel investors Bigbaskets Hari TN, and Blackbuck co-founders Rajesh Yabaji and Chanakya Hridaya. He added, “With our superfast but organic growth, we are confident that we will be able to expand to more markets in northern India and bring about a positive change in the lives of millions of consumers." Founded in 2018 by Kumar Sangeetesh and Sachin Sharma, who were working at BlackBuck earlier, with IIM-Ahmedabad graduate Abhishek Halder — 1K Kirana Bazaar works with the unorganised kirana stores to set up both online and offline capabilities to retail customers and help in sourcing, which leads to improved efficiencies. 1K Kirana Bazaar has a similar proposition as Bengaluru-based Gully Network, which partners with mid-size retail stores in Tier I and II cities to offer full-stack solutions, including inventory management, among other services. The Gurugram-based kirana store caterer also competes with digital solution providers, including Shoopy and India Quotient-backed Neo Dove, among others.