AMPM Store raises Rs 1.6 crore in funding

AMPM Store, a convenience store startup, has raised Rs 1.6 crore (around $217,744) in funding through the Agility Venture Partners angel investment platform at a valuation of Rs 6.6 crore.

The round through the platform was led by entrepreneur Vineet Gupta, Delhi-based AMPM Store said. Agility Venture Partners is a New Delhi-based investor aiming to invest in 30 startups through the year. It will launch a dedicated fund by September.

Other investments conducted through its platform include commitments to Power Gummies, Vanity Wagon, and Civil Cops.

AMPM Store, operated by AM-PM Store Pvt Ltd, was set up in 2019 by Shubham Gupta. The company says it operates stores across five cities that sell domestic and international products across categories like groceries, bakery, food and beverages, stationery, and pharmacy.

It will use the capital it has raised to expand to 10 cities by the end of this year, with at least 15 live stores across north India, Gupta said.