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CityMall Raises $75 Mn in Series C Round Led by Norwest

CityMall has raised $75 million in the 3rd round of funding led by Norwest Venture Partners and participated by other new and existing investors. CityMall had raised $11 million Series A in March and $22.5 million Series B in June.

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CityMall Raises $75 Mn in Series C Round Led by Norwest

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  1. CityMallRaises$75MninSeries CRoundLedbyNorwest Asocial-commerceplatformcalledCityMallhasreceivedRs574croreor$75million,ledbyNorwestVenturePartnersandparticipatedbyotherinvestors,bothexistingandnewinvestors.ThisisthethirdroundoffundingforthefirmbasedinGurugraminthepastyear. CityMallhasgrantedtheallotmentofoneequityshareand11771preferentialsharesatthepriceof458,716toraise$574crore(or$75m),theregulatoryreportsindicate.NorwestCapitalandCitiusFundarethetwobiggestparticipantsintheround,withaninvestmentofRs142.52croreandthesumofRs 112.52crore,respectively.JungleVenture,ElevationCapital,AMHolding,GeneralCatalysts,WaterbridgeVentures,andAccelhaveatotalofRs90crore,60crores,andthesumofRs56.2croreas wellasthesumofRs30croreand22.5crores,respectively. EntrackrwasexclusiveinformationregardingthisparticularroundbackinOctober.CityMallraised$11millioninSeriesAinMarchand$22.5millionSeriesBbyJune.AsperFinancialTracker'sestimations,thecompanyisvaluedat320milliondollarsinitsSeriesCround. Alsoread:Wakefit SlipsInto LossesAfterCrossingRs400CrinRevenue Additionally,thecompanyhasalsoexpandeditsESOPoptionpoolfrom1381to2912options,anditisnowworth135crores,equivalentto$17.5million.

  2. CityMalloffersthecategoriesoflifestyle,grocery,andothercategoriesbyestablishinganextensivenetworkofcommunity-basedresellersintierIIaswellasIIItowns.Thecompanyclaimstohave200Kcustomersand20,000resellersineightcitieswithinHaryana.Haryana.CityMalloffersthecategoriesoflifestyle,grocery,andothercategoriesbyestablishinganextensivenetworkofcommunity-basedresellersintierIIaswellasIIItowns.Thecompanyclaimstohave200Kcustomersand20,000resellersineightcitieswithinHaryana.Haryana. CityMallhasearnedmoneyatthebeginningoftheyearduringtheyear-endofMarch2021.TheoperatingrevenuewasthesumofRs14.95croreforFY21.However,itsufferedalossoftheequivalentof10.4croresoverthesametime. CityMall'srivalthatisclosed,DealShare,recentlyaddedtotheSeriesEfundingroundwith45milliondollars.TheTigerGlobal-backedbusinesswasthesecondunicorntoemergefromtheworldofsocialcommerce,followingMeesho.CityMallisalsoincompetitionagainstFarmiobyMeeshoandacoupleofothers. Alsoread:SharkTank'sAshneerGrover DemandsRs.4000 CroretoLeave HisCompanyBharatPe TheAngadKiklaandNaisheelVardhan-ledcompanyjoinedafewstartupswhichhaveraisedthreecapitalroundsoverthepasttwelvemonths.OnMonday,theB2BanimalproteinmarketCaptainFreshannouncedits$50millionSeriesCround.TheBengaluru-basedbusiness'sprevioustworoundstookplaceinJulyandDecemberthisyear. Getallthe lateststartupnewsandupcomingIPOnewsonEntrackr.

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