VilCart Secures $10 Million to Revolutionize Rural Commerce

VilCart, a B2B e-commerce firm focused on rural areas, has raised USD 10 million in bridge funding to boost growth. The funds, from AI-X BV, Spark Capital, and Nabventures, will strengthen rural supply chains, enhance technology, and transform kirana stores into grameen supermarkets in south India.

Rural-focused e-commerce firm VilCart has announced securing USD 10 million in bridge funding to expedite its expansion. This funding round was backed by AI-X BV, Spark Capital, and existing investors Nabventures.

VilCart aims to enhance its presence across south India's 30,000 villages, reaching 16% of the rural population through a network of 100,000 kirana stores. The company plans to transform these stores into grameen supermarkets, bolstering rural supply chains and technology.

CEO Prasanna Kumar C highlighted the funding as validation of VilCart's growth in rural commerce, projecting a topline increase to Rs 1,200 crore for the current fiscal year. Nabventures CIO Ashish Chaudhury expressed unwavering support for VilCart's mission to connect industry stakeholders directly to rural markets.

(With inputs from agencies.)