Quick commerce startup Apna Mart has raised Rs 120 crore in a Series C round led by existing investors Accel India and Fundamentum, with participation from Peak XV Partners, valuing the Gurugram-based company at around Rs 1,470 crore, nearly double its previous valuation of Rs 738 crore. The funding, announced on July 30, 2026, will fuel Apna Mart’s expansion of its franchise-based omnichannel quick commerce model into more tier II and tier III cities.
Founded by Abhishek Singh and Chetan Garg, Apna Mart operates a neighborhood store-led delivery network that promises groceries and daily essentials in roughly 10 minutes, differentiating itself from urban-focused rivals. The company says revenue grew 2.5 times to Rs 500 crore in FY26, up from Rs 185 crore in FY25, when it also reported a net loss of Rs 76 crore.
How Is Apna Mart’s Quick Commerce Model Different From Blinkit or Zepto?
Unlike metro-first quick commerce players such as Blinkit, Swiggy Instamart and Zepto, Apna Mart runs a franchise-based, neighborhood store-led network built specifically for tier II and tier III cities, where dark-store economics are harder to justify. This asset-light franchise approach lets Apna Mart scale delivery infrastructure faster in smaller cities without the heavy capital expenditure of company-owned dark stores, a model that investors are now backing with a near-doubling of valuation to Rs 1,470 crore.
What Does This Mean for India’s Quick Commerce Market?
Apna Mart’s Series C signals that investors see meaningful room for quick commerce growth beyond India’s metro markets, where competition among Blinkit, Instamart and Zepto has intensified sharply. With revenue up 2.5x to Rs 500 crore in FY26, Apna Mart’s traction suggests tier II and tier III consumers are adopting 10-minute delivery at a pace that justifies fresh capital, even as the company continues to post losses typical of the quick commerce category’s growth phase.
Industry Reaction and Expert Commentary
The participation of Accel India, Fundamentum and Peak XV Partners in this round reflects continued institutional confidence in franchise-led quick commerce as a distinct, defensible category separate from metro dark-store operators. The near-doubling of valuation from Rs 738 crore to Rs 1,470 crore in a single round also points to investors pricing in Apna Mart’s revenue growth trajectory rather than just its current loss-making status.
What Happens Next?
Apna Mart plans to use the fresh Rs 120 crore to strengthen its working capital position and accelerate expansion into new tier II and tier III markets across India. Watch for announcements on new city launches and franchise partner additions as the company works to convert its FY26 revenue momentum into a path toward profitability.
Frequently Asked Questions
What does Apna Mart do?
Apna Mart is a Gurugram-based quick commerce startup that uses a franchise-based, neighborhood store-led model to deliver groceries and daily essentials in about 10 minutes, focused on tier II and tier III Indian cities.
Who invested in Apna Mart’s Series C round?
The Rs 120 crore Series C round was led by existing investors Accel India and Fundamentum, with participation from Peak XV Partners, valuing the company at approximately Rs 1,470 crore.
How much revenue does Apna Mart generate?
Apna Mart’s revenue grew 2.5 times year-on-year to reach Rs 500 crore in FY26, up from Rs 185 crore in FY25, though the company recorded a net loss of Rs 76 crore in FY25.
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