Rural commerce tech platform VilCart has raised $18 million in a Series A VC funding round led by Asia Impact SA.
VilCart aims to expand its operations to the entire South India by 2024.
Nabventures Fund and Texterity also participated in the round.
“VilCart aims to bridge the gap between rural consumers and to the manufacturers/primary market by building a strong network. With the new investment, we aim to scale our operations to the entire South India,” said Prasanna Kumar, Founder of VilCart.
VilCart was established in 2018 by Kumar and Amith S Mali.
Currently, VilCart has reached 85,000 kirana stores in 30,000 villages, covering 29 districts in Karnataka and one in Andhra Pradesh and Tamil Nadu, respectively.
VilCart expanded its size by 2.6X to $25 million in FY22, up from $9.6 million in FY21.