Omnichannel startup Express Stores Raises INR 8 Crore in Seed Capital from Clutch of Investors
Omni-channel startup (online and offline) Express Store has raised Rs 8 crore in seed funding led by early-stage venture capital firm Venture Highway. The round also saw participation from various individual investors such as Kunal Bahl & Rohit Bansal (Snapdeal), Anupam Mittal (People Group), and Amit Singhal (Google) among others.
Based in Gurugram, Express Stores is a platform for grocery stores to find trusted business solutions including supply, inventory management and customer relationship management tools. Founded by IIT Delhi and BITS Pilani alumni, Apoorv Jain and Kartik Gupta, the startup is organizing the kirana store segment by delivering efficient supply, reimagined in-store experience, sophisticated customer engagement and brand identity. It aims to create a chain of branded Kirana stores empowered by technology with improved in-store experience, sophisticated customer engagement and efficient supply chain.
Apoorv Jain, CEO & Co-founder, Express Stores, says, “We believe the next big opportunity lies in the modernisation of kiranas, a segment which continues to be largely unorganised. Consumers need modern shopping experience in their neighbourhood while retailers need hassle-free, profitable business operations. Express Stores, with its 360-degree solution, aims to lead this change.”
Express Stores claims that it has achieved product-market fit with a unique, scalable, technologically driven, and contribution margin positive business model. The fresh infusion of capital will be utilized by the startup for product-market fit, initial growth, talent addition, improving supply chain, and technology.
Samir Sood, Founder, Venture Highway, said, “We are excited to partner with Express Stores as they represent the ambition of next-gen Indian founders solving for Bharat. Grocery is an overwhelmingly large market, and the most important thing for a startup in this space is to have a clear sight of positive unit economics. We are confident that Apoorv, Kartik, and team are doing exactly that while scaling fast”.
Anupam Mittal, Founder, People Group, said, “Express Stores is tapping a massive retail opportunity and have mastered their GTM and playbook over the last year. I’m delighted and proud to partner with the team, who have the right mix of experimentation, execution and excellence.”
Based in Gurugram, Express Stores is a platform for grocery stores to find trusted business solutions including supply, inventory management and customer relationship management tools. Founded by IIT Delhi and BITS Pilani alumni, Apoorv Jain and Kartik Gupta, the startup is organizing the kirana store segment by delivering efficient supply, reimagined in-store experience, sophisticated customer engagement and brand identity. It aims to create a chain of branded Kirana stores empowered by technology with improved in-store experience, sophisticated customer engagement and efficient supply chain.
Apoorv Jain, CEO & Co-founder, Express Stores, says, “We believe the next big opportunity lies in the modernisation of kiranas, a segment which continues to be largely unorganised. Consumers need modern shopping experience in their neighbourhood while retailers need hassle-free, profitable business operations. Express Stores, with its 360-degree solution, aims to lead this change.”
Express Stores claims that it has achieved product-market fit with a unique, scalable, technologically driven, and contribution margin positive business model. The fresh infusion of capital will be utilized by the startup for product-market fit, initial growth, talent addition, improving supply chain, and technology.
Samir Sood, Founder, Venture Highway, said, “We are excited to partner with Express Stores as they represent the ambition of next-gen Indian founders solving for Bharat. Grocery is an overwhelmingly large market, and the most important thing for a startup in this space is to have a clear sight of positive unit economics. We are confident that Apoorv, Kartik, and team are doing exactly that while scaling fast”.
Anupam Mittal, Founder, People Group, said, “Express Stores is tapping a massive retail opportunity and have mastered their GTM and playbook over the last year. I’m delighted and proud to partner with the team, who have the right mix of experimentation, execution and excellence.”
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