Indian rural distribution startup VilCart announced on 29th July, 2020, that it has secured the bridge funding from the existing and new investors including Prasanth Prakash of Accel and other prominent angel investors.[1]
The other participants in the funding round include- Anand Nichani, Board Member, Garuda Polyflex; N S Parthasarathy, ex-COO and Co-founder of Mindtree; Anath Ravi, ex-Sr VP, Reliance Industries Ltd; Dilipkumar Khandelwal, Managing Director and Global Head of Technology Centre, Deutsche Bank and ex-MD, SAP Labs India. The existing investors who reinvested in the round include Anand Banka, ex-Director of EY and Vedanta, Accel Partners, Kalit Kapoor, Prashanth Prakash and Anand Banka.
VilCart is a tech startup which enables small town and village retailers to order consumer goods digitally. It is intending to deploy the funds for expansion, upgrading technology and hire new talents.
The startup is planning to expand its operations in Tamil Nadu and Andhra Pradesh by 1st August. The company is based in Karnataka and currently operating in 10 districts.
Founder of VilCart, Prasanna Kumar commented, “We are helping small brands get a wider, greater reach with tech. Some of them are rural brands, which can now reach many cities across three states. During the COVID-19 crisis, we helped villages in essentials supplies.”
The company also wants to start a ‘Farmer to Farmer’ business and wants to buy from farmers in one geography and sell it to those in another geography.
About the company
Amith S Mali, Prasanna Kumar and Mahesh Bhat, Rajasekhar together started VilCart in the year 2018. It is a Business-to-Business ecommerce company having a mission to revolutionize the retail industry in rural India through its easy to use logistics facilities, updated technology and supply chain.
VilCart started its business operations from one district and has rapidly expanded to 10 districts in Karnataka, including Kolar, Mandya and Bengaluru Rural. Presently, it is catering to the needs of over 5000 grocery stores across more than 1000 villages. Earlier, it had raised Rs 2 crore as seed capital. “Even a small change in the way we work can create a big impact on how we do business with them. This is where the people we employ makes a difference. They understand the mindset of the business owners and help us grow our business,” Prasanna added.
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