Founded in 2017 by Prasanna Kumar, Mahesh Bhat, Rajasekhar, and Amith S Mali, VilCart offers a one-stop solution for rural brick-and-mortar stores, ranging from procuring inventory to managing supply chain operations.
Rural commerce startup VilCart has raised INR 106.6 Cr ($13 Mn) in a Series A round led by Asia Impact. The round also saw participation from NABARD-backed equity fund Nabventures and Texterity. According to regulatory documents filed with the Registrar of Companies (RoC), the Indian startup will use the funds to scale operations across the country.
Perusal of the documents revealed that Asia Impact invested INR 91.96 Cr in the round, followed by Nabventures, which pumped in INR 14 Cr. Texterity infused INR 62 Lakh in the startup. Following the deal, Asia Impact now holds a 31.28% stake in the startup, while NabVentures owns 12.36% in the company. Test Yantra Solutions owns a 3.18% stake in the company and Texterity holds 0.17%.
Founded in 2017 by Prasanna Kumar, Mahesh Bhat, Rajasekhar, and Amith S Mali, VilCart Bridge to Rural Kirana offers a one-stop solution for rural brick-and-mortar stores, ranging from procuring inventory to managing supply chain operations. The startup last raised INR 15 Cr in a seed round in November 2021. To date, it has raised more than INR 121 Cr.
The startup currently operates across South India – Karnataka, Telangana, Tamil Nadu, Kerala, and Andhra Pradesh and competes with players such as 1Bridge, FAARMS, Rozana, and ElasticRun, among others.
The startup’s net loss stood at INR 11.13 Cr in the financial year 2021-22 (FY22), up nearly 2.3X compared to INR 4.81 Cr in FY21. Further, it reported a revenue of INR 209.7 during the period under review.
