Accel leads $47 million funding in e-commerce startup CityMall

MUMBAI: CityMall has raised $47 million in funding led by Accel. Existing investors including Waterbridge Ventures, Citius, General Catalyst, Elevation Capital, Norwest Venture Partners, and Jungle Ventures also backed the round.

The fresh capital will be deployed to expand besides boosting its portfolio of private labels and brand partnerships. Launched in 2019 by Angad Kikla, Naisheel Verdhan and Rahul Gill, CityMall’s e-commerce platform caters to smaller towns. The startup operates in over 60 cities across Delhi NCR, Uttar Pradesh, Haryana, Uttarakhand, and Bihar.“CityMall has built something truly differentiated - a low-cost supply chain model that makes e-commerce economically viable for India's underserved communities and delivers true value to the mass market consumers. They have reimagined commerce for value-conscious consumers who have been overlooked by traditional online platforms,” said Accel partners Rachit Parekh and Pratik Agarwal.