Vilcart to raise Rs 50 cr institutional funding soon; to connect 10 lakh rural kirana stores

E-commerce startup Vilcart on Wednesday said it will raise Rs 50 crore institutional funding in next couple of months for expanding its business in South India. Vilcart offers a platform through which rural kirana stores can source various products for retailing purpose and get the delivery easily at their doorstep at lower price. The order can be placed either through mobile app or tele-calling. The Bengaluru-based company, set up in 2018 with an angel funding of Rs 9 crore, is operating in Karnataka, Andhra Pradesh and Tamil Nadu providing service to 15,000-odd kirana shops. ''We are planning to raise Rs 50 crore institutional funding in the next couple of months. The funds will be utilized to expand our business in South India,'' Vilcart Founder and CEO Prasanna Kumar C told PTI. Much of the focus so far has been in Karnataka, where the company is operating in 18 districts including Mysuru, offering services to 15,000 kirana stores, while there is one store each in Andhra Pradesh and Tamil Nadu, he said. ''The funds that we plan to raise will help expand our business and reach out to about 10 lakh kirana stores in South India by 2022,'' he said adding that the purpose is to bridge the gap between rural consumers and manufacturers/primary market. Kumar further said though the company is an e-commerce platform, it works on an inventory model in rural India. The company offers sourcing, logistics and marketing support to kirana stores located in villages with less than 5,000 population.