In a funding round co-led by new and existing investors, Apna Mart is in the final stages of raising $15-20 million.

Late-stage talks between Fundamentum Partnership and Accel are about leading a $15-20 million round in Apna Mart. The contract has been signed, and the deal is expected to close soon, according to a person who requested anonymity.

In the last 20 months, the Bengaluru-based company has received two rounds of investment. Thekredible, a startup data intelligence platform, reports that Apna Mart has secured a total funding of $14.4 million from Accel, Peak XV, and Disruptors Capital.

Entrackr exclusively reported Apna Mart's first funding in April 2023. There are grocery and FMCG deliveries within 15 minutes at Apna Mart. The company operates in 14 cities, including Ranchi, Hazaribagh, and Bilaspur, and uses its franchise model to scale rapidly while maintaining operational efficiency.

Apna Mart is likely to be valued in the range of $100-125 million, according to the person quoted above. If nothing goes wrong from now, the transaction is set to be materialized in the coming weeks.

Co-founders Abhishek Singh and Chetan Garg each own 24.76% of the company, while Accel holds a 16.6% stake.

Over the past two fiscal years, the Bengaluru-based company has been growing at a rapid clip. Its revenue from operations increased 16X to Rs. 59.7 crore in FY24 from Rs. 3.7 crore in FY22. Apna Mart’s operating scale grew 85.6% to Rs. 5.4 crore in FY24 on the basis of year-on-year.