CityMall raises $47 million in funds to build value e-commerce

CityMall raises $47 million in funds to build value e-commerce

Currently, it serves over 60 cities across Delhi-NCR, Uttar Pradesh, Haryana, Uttarakhand, and Bihar

E-commerce firm CityMall has raised $47 million in its Series D funding. The round was led by Accel, with participation from existing investors including Waterbridge Ventures, Citius, General Catalyst, Elevation Capital, Norwest Venture Partners, and Jungle Ventures.

The capital will expedite its mission of building value commerce for India. This includes driving deeper penetration in existing regions, expanding into adjacent geographies, and continuing to scale the lowest-cost distribution infrastructure. The company will strengthen its portfolio of private labels and brand partnerships, creating value for mass-market consumers.

With this round, CityMall’s cumulative funding reached $165 million, and the new valuation is $320 million.

Speaking on the development, Angad Kikla, co-founder and CEO of CityMall remarked, "CityMall was born from a simple belief that the next wave of India's growth will be shaped in its small towns and communities. We see ourselves as a Bharat-first company. In small towns across the country, families have been overpaying for everyday essentials simply because they had limited choices. That's not just a business gap; it's a human problem that deserves a human solution.”

India’s $125 billion e-commerce sector has largely been designed for convenience-first metro consumers. While it is built on expensive infrastructure, high customer acquisition costs, and assortments tailored to urban preferences, the company felt that the country required a different approach.

Kikla added, “We're not trying to replicate what works in metros; we're building something entirely new for the next India.”

Founded in 2019 by Angad Kikla, Naisheel Verdhan, and Rahul Gill, CityMall is addressing this gap by creating a value-first model for India’s Tier II, III, and IV towns.

It has built the country’s lowest-cost distribution network (up to three times more efficient than traditional e-commerce players).

CityMall is establishing itself in mass-market categories through a strong and growing private label and regional portfolio of brands. Currently serving over 60 cities across Delhi NCR, Uttar Pradesh, Haryana, Uttarakhand, and Bihar, it has been on a 2-times year-over-year growth trajectory over the past few years.

Beyond its expansion plans, the company will invest in attracting and nurturing top talent across technology, product, and operations.

Rachit Parekh and Pratik Agarwal, Partners at Accel, stated, “CityMall has built a low-cost supply chain model that makes e-commerce economically viable for India's underserved communities and delivers true value to the mass market consumers.”