CityMall raises $11 million in Series A funding round

Gurugram: CityMall, a social e-commerce platform, on Thursday, said it has raised $11 million (Rs 80 crore) as part of its Series A round led by Accel.

Existing investors Elevation Capital, Jungle Ventures, and WaterBridge Ventures also participated in this round, said CityMall.

Operated by Cmunity Innovations Pvt Ltd, the platform will use the fresh capital to strengthen its supply chain and logistics network.

A part of the capital will also be deployed to expand its footprint to 20 new small towns and cities.

The company also established a presence in smaller towns and cities such as Rewari, Dharuhera, Pataudi, Sonipat, Bahadurgarh, Jhajjar, Rohtak, and Panipat during this period.

CityMall was founded by Angad Kikla and Naisheel Verdhan in 2019. It seeks to create a chain of virtual stores on WhatsApp for the next 300 million internet users in India through a network of neighborhood community leaders.