Apna Mart to raise Rs 120 crore Series C from Accel, Fundamentum, Peak XV at doubled valuation

Franchise-led omnichannel grocery chain Apna Mart is raising Rs 120 crore ($12.7M) in a Series C co-led by Accel and Fundamentum, with Peak XV. The round nearly doubles its valuation to Rs 1,470 crore from Rs 738 crore. The Tier II/III-focused player posted Rs 185 crore revenue and Rs 76 crore net loss in FY25, targeting Rs 500 crore in FY26 against Blinkit, Instamart and Zepto.

— Source publishedTue, 30 Jun, 2026, 13:25 IST·First seen Tue, 30 Jun, 2026, 13:26 IST·Source Entrackr

What happened

Franchise-led omnichannel grocery/quick commerce chain Apna Mart raising Rs 120 crore Series C co-led by Accel and Fundamentum, with Peak XV, doubling valuation

Key facts

  • Rs 120 crore
  • $12.7 million
  • $25 million Series B
  • Rs 1,470 crore valuation
  • Rs 738 crore prior valuation
  • 2,367 CCPS at Rs 5,06,757
  • Rs 185 crore revenue FY25
  • Rs 76 crore net loss FY25
  • Rs 500 crore revenue FY26
  • 22.83% Accel stake
  • 10% layoffs

Why this matters

Apna Mart's Tier II/III franchise footprint and fresh capital make it a credible regional consolidation vehicle or eventual acquisition target for quick-commerce majors seeking small-town distribution beyond metro saturation.

What to watch

  • FY26 quarterly revenue run-rate vs Rs 500 crore target
  • Net loss trajectory and per-store unit economics disclosures
  • Blinkit/Zepto/Instamart dark-store expansion into Tier II/III towns
  • Franchise churn or store-closure signals
  • Timing and size of next funding round
  • Accelerate franchise store openings across Tier II/III cities to lock geographic share before QC players arrive
  • Push private-label and high-margin SKUs to improve contribution margins toward profitability narrative
  • Build out app/omnichannel layer to defend against pure quick-commerce convenience
  • Signal path to FY26 Rs 500 crore revenue to set up a larger Series D at sustained valuation

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