Apna Mart, a rapidly growing franchise-driven omnichannel grocery and FMCG retail chain, has raised ₹214.5 crore (approximately $25 million) in a fresh funding round through a mix of equity and debt. The investment was led by Fundamentum Partnership Fund and Accel, with participation from existing investors.
According to regulatory filings with the Registrar of Companies (RoC), Apna Mart’s board approved the issuance of 6,342 Series B compulsory convertible preference shares at Rs. 2,78,402 per share, raising Rs. 176.5 crore. Additionally, the company secured Rs. 38 crore through the issuance of 3,800 debentures.
Fundamentum Partnership Fund led the round with an Rs. 84 crore investment, while Accel India, Peak XV, and Sparrow Capital contributed Rs. 60.88 crore, Rs. 17.4 crore, and Rs. 4 crore, respectively. Additional investments came from 2 AM Ventures, Disruptors Capital, and Alteria.
Founded by Abhishek Singh and Chetan Garg, Apna Mart operates on a franchise-led model, offering grocery and FMCG deliveries within 15 minutes, alongside its brick-and-mortar stores. The company has expanded its presence to 14 cities, including Ranchi, Hazaribagh, and Bilaspur.
With backing from investors such as Nandan Nilekani’s Fundamentum and Accel, Apna Mart is poised to expand its footprint in India’s competitive retail sector, where it competes with quick commerce players like Blinkit, Swiggy Instamart, and Zepto.
