CityMall Raises $47M in Series D Funding to Expand Value E-Commerce
Gurugram, September 2, 2025 – Community-focused e-commerce startup CityMall has secured $47 million in Series D funding, led by Accel, with participation from Waterbridge Ventures, Citius, General Catalyst, Elevation Capital, Norwest Venture Partners, and Jungle Ventures.
Steady Valuation Amid Growth
The funding keeps CityMall’s valuation at around $320 million, unchanged since its last Series C round. Despite market volatility, the company’s consistent revenue growth has reinforced investor trust.
In FY24, CityMall recorded ₹459 crore in revenue, up from ₹378 crore in FY23.
Expansion and Future Plans
The company will use the fresh funds to:
- Expand into new Tier II–IV cities
- Strengthen supply chain and private-label offerings
- Enhance its technology and product teams
A Focus on Bharat Beyond Metros
Founded in 2019 by Angad Kikla, Naisheel Verdhan, and Rahul Gill, CityMall caters to value-conscious households in smaller towns.
Its next-day delivery model offers affordable essentials via local and private-label brands—bridging the gap between offline stores and costly quick-commerce platforms.
CityMall now operates in 60+ cities, spanning Delhi-NCR, UP, Haryana, Uttarakhand, and Bihar.
Leadership Insights
CEO Angad Kikla emphasized:
“For too long, families outside metros have had limited choices and overpaid for essentials. Our mission is to change that with a low-cost, technology-led distribution model built on trust, accessibility, and affordability.”
Accel partners Rachit Parekh and Pratik Agarwal added:
“CityMall has built a supply chain model that makes e-commerce truly viable for India’s underserved communities.”
Quick Highlights
- Funding Raised: $47M (Series D)
- Lead Investor: Accel
- Valuation: ~$320M (flat)
- Founded: 2019
- Operations: 60+ cities (Tier II–IV focus)
- USP: Affordable essentials, next-day delivery
Conclusion
CityMall’s latest funding round strengthens its position as a value-first e-commerce leader in India’s smaller cities. With a scalable supply chain and a sharp focus on affordability, it is set to expand its footprint and challenge traditional and quick-commerce players alike.
Suggested Blog Tags
CityMall, Startup Funding, Series D, Accel, E-commerce in India, Tier 2 Cities, Indian Startups, Next-day Delivery, Grocery E-commerce