CityMall Bags Rs 414 Crore in Series D Funding to Expand Value E-commerce in Tier III & IV Towns

Introduction
CityMall, the Gurugram-based value e-commerce startup and a notable rival to Meesho, has raised $47 million (approximately ₹414 crore) in its latest Series D funding round. The round was led by venture capital giant Accel, with participation from existing investors such as Waterbridge Ventures, Citius, General Catalyst, Elevation Capital, Norwest Venture Partners, and Jungle Ventures. This fresh capital will accelerate CityMall’s growth strategy to deepen its reach in smaller towns and expand private label offerings.

Focus on Bharat’s Tier III and IV Markets

Founded in 2019 by IIT alumni Angad Kikla and Naisheel Verdhan, CityMall operates a community-driven e-commerce platform that primarily targets consumers in Tier III and Tier IV towns. The startup offers an extensive range of products including groceries, FMCG, white goods, electronics, fashion, and household essentials. Its unique distribution model leverages local community leaders and resellers who aggregate demand in these smaller towns, making affordable, quality products accessible to markets often underserved by larger platforms.

Vision and Mission

CityMall’s mission is clear and ambitious: to shape the next wave of India’s growth by empowering small towns and communities. According to CEO Angad Kikla, “Families in these regions have long been overpaying for essentials due to limited choices. By marrying technology with a disruptive low-cost distribution model, we are creating something meaningful for the next India.”

Funding and Growth Strategy

The $47 million Series D funding round comes at a valuation of around $320 million, slightly below the $350 million valuation of CityMall's previous Series C round. With this round, CityMall’s cumulative funding has reached $165 million since inception.

The company plans to deploy this capital to:

• Strengthen and expand its distribution network across smaller cities
• Grow private label product portfolios to improve margins and consumer loyalty
• Enhance supply chain efficiency for faster delivery and reduced costs
• Invest in marketing, technology, and talent acquisition to build a scalable business

Accel partners praised CityMall's differentiated approach to value commerce, highlighting its “low-cost supply chain model” that makes e-commerce viable for underserved consumers in Bharat markets.