CityMall Raises $75 Mn in Series C Round Led by Norwest

1
CityMall Raises 75 Mn in Series C Round Led by
Norwest
A social-commerce platform called CityMall has
received Rs 574 crore or 75 million, led by
Norwest Venture Partners and participated by
other investors, both existing and new investors.
This is the third round of funding for the firm
based in Gurugram in the past year. CityMall has
granted the allotment of one equity share and
11771 preferential shares at the price of 458,716
to raise 574 crore (or 75m), the regulatory
reports indicate. Norwest Capital and Citius Fund
are the two biggest participants in the round,
with an investment of Rs 142.52 crore and the sum
of Rs 112.52 crore, respectively. Jungle
Venture, Elevation Capital, AM Holding,
General Catalysts, Waterbridge Ventures, and
Accel have a total of Rs 90 crore, 60 crores, and
the sum of Rs 56.2 crore as well as the sum of Rs
30 crore and 22.5 crores, respectively. Entrackr
was exclusive information regarding this
particular round back in October. CityMall raised
11 million in Series A in March and 22.5
million Series B by June. As per Financial
Tracker's estimations, the company is valued at
320 million dollars in its Series C round. Also
read Wakefit Slips Into Losses After Crossing Rs
400 Cr in Revenue Additionally, the company has
also expanded its ESOP option pool from 1381 to
2912 options, and it is now worth 135 crores,
equivalent to 17.5 million.
2
CityMall offers the categories of lifestyle,
grocery, and other categories by
establishing an extensive network of
community-based resellers in tier II as well as
III towns. The company claims to have 200K
customers and 20,000 resellers in eight cities
within Haryana. Haryana. CityMall has earned
money at the beginning of the year during
the year-end of March 2021. The operating
revenue was the sum of Rs 14.95 crore for FY21.
However, it suffered a loss of the equivalent of
10.4 crores over the same time. CityMall's rival
that is closed, DealShare, recently added to the
Series E funding round with 45 million dollars.
The Tiger Global-backed business was the second
unicorn to emerge from the world of social
commerce, following Meesho. CityMall is also in
competition against Farmio by Meesho and a couple
of others. Also read SharkTank's Ashneer Grover
Demands Rs.4000 Crore to Leave His Company
BharatPe The Angad Kikla and Naisheel
Vardhan-led company joined a few startups
which have raised three capital rounds over
the past twelve months. On Monday, the B2B animal
protein market Captain Fresh announced its 50
million Series C round. The Bengaluru-based
business's previous two rounds took place in
July and December this year. Get all the latest
startup news and upcoming IPO news on Entrackr.