Team StartupCity

• CityMall secured $47 million in Series D funding led by Accel.
• The company aims to expand its reach in smaller towns and boost its low cost supply chain.
• It plans to invest in private labels, talent, and deeper regional presence.

Gurugram based e-commerce startup CityMall has raised $47 million in a Series D funding round led by Accel, with participation from existing investors like Waterbridge Ventures, Citius, General Catalyst, Elevation Capital, Norwest Venture Partners, and Jungle Ventures. This latest funding brings CityMall’s total capital raised to $165 million, and its current valuation stands at around $320 million.

Founded in 2019 by Angad Kikla, Naisheel Verdhan, and Rahul Gill, CityMall focuses on value driven e-commerce for Tier II, III, and IV towns in India. It currently operates in over 60 cities across Delhi NCR, Uttar Pradesh, Haryana, Uttarakhand, and Bihar. The company has reported 2x year over year growth in recent years.

The fresh funds will be used to expand CityMall’s operations in existing and new regions, strengthen its private label offerings, and build India’s most cost effective distribution network which is said to be up to three times more efficient than traditional e-commerce models.

Co-founder and CEO Angad Kikla said, “We’re not replicating what works in metros. We’re building a new model for Bharat, a solution to a real, human problem where families in small towns overpay for basics due to limited options”.

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CityMall is also planning to invest in hiring talent across tech, product, and operations to support its scale. According to Accel partners Rachit Parekh and Pratik Agarwal, CityMall's supply chain model makes online retail more affordable and accessible for underserved Indian communities.

By focusing on low cost, regional distribution and consumer first pricing, CityMall aims to redefine how small town India shops online offering not just convenience, but real value.