Transit retail chain Yatrikart raised strategic investment from MMG Group
In a Series A funding round, MMG Group, the Indian partner of multinational conglomerates McDonald’s and Coca-Cola, has made a strategic investment in Yatrikart, a transit retail chain, purchasing a stake at a valuation of Rs 100 crore.
She Capital, Shuru Up, Fox Software Ventures, and Artha Venture Fund were among YatriKart’s previous investors, together contributing $2.8 million.
Yatrikart stated in a press release that the money will be utilized to improve tech infrastructure, use the ‘Quick Commerce for Transit’ app to optimize supply chains, and grow its franchise network using FOCO and FOFO models.
Yatrikart is a tech-enabled transit retail chain that was co-founded in 2021 by Gaurav Rana and Shivangee Sharma. It focuses on micro-entrepreneurship and gives hawkers and retailers at transit stations the ability to develop a new “retailing-on-the-go” format. It seeks to be a “WH-Smith for Bharat” by enabling vendors and hawkers at transit stations to provide both necessary and optional goods to passengers on the road and by train.
The company, which is based in Indore, claims that its main goal is to give people who are constantly on the go a convenient way to shop. Snacks, drinks, personal care, home care, pet care, confections, tobacco, hygiene, ready-to-eat foods, over-the-counter medications, micro ATMs, and charging stations are just a few of the products it sells.
In order to strengthen its technology-driven retail ecosystem, Yatrikart plans to open more than 5,000 smart kiosks and stores at airports, train stations, highways, and metro areas. The business claims that while it does not currently face direct competition, it does face indirect competition from disorganized carts and kiosks.
