Apna Mart Secures ₹214.5 Crore Funding Led by Fundamentum and Accel to Expand Grocery Retail Chain

Apna Mart, a fast-growing franchise-based grocery and FMCG retail chain, has secured ₹214.5 crore (around $25 million) in a new funding round. This investment, a mix of equity and debt, was led by Fundamentum Partnership Fund and Accel, with additional contributions from existing investors. The fresh capital will help Apna Mart expand its presence across India, particularly in Tier-II and Tier-III cities.

According to filings with the Registrar of Companies (RoC), the company raised ₹176.5 crore through the sale of 6,342 Series B compulsory convertible preference shares at ₹2,78,402 per share. Additionally, it secured ₹38 crore by issuing 3,800 debentures. Key investors include Fundamentum Partnership Fund, which invested ₹84 crore, Accel India with ₹60.88 crore, Peak XV Partners contributing ₹17.4 crore, and Sparrow Capital adding ₹4 crore. Other backers include 2 AM Ventures, Disruptors Capital, and Alteria Capital.

Founded by Abhishek Singh and Chetan Garg, Apna Mart combines the convenience of quick commerce with a strong franchise-led offline presence. The company ensures grocery and FMCG deliveries within 15 minutes while expanding its network of physical stores. Currently, Apna Mart operates in 14 cities, including Ranchi, Hazaribagh, and Bilaspur, competing with established players like Blinkit, Swiggy Instamart, and Zepto.

With rising demand for quick and convenient shopping, this funding will help Apna Mart scale operations, enhance technology, and improve its supply chain. The company’s franchise model allows local entrepreneurs to run stores under its brand, enabling rapid expansion without heavy upfront costs.

As India's retail market grows beyond $1 trillion, Apna Mart is positioning itself as a key player in the hybrid retail space. Backed by top investors like Fundamentum and Accel, the company is set to strengthen its foothold and redefine convenience shopping in India.