India’s Quick-Commerce Market
India’s quick-commerce industry is transforming grocery and everyday-essentials shopping by combining neighborhood retail convenience with rapid doorstep delivery, typically within 10–15 minutes. The sector is increasingly expanding beyond major metros into Tier II and Tier III cities, creating opportunities for platforms that combine local availability with technology-enabled ordering and faster delivery.
Key Market Drivers
- Rising Digital Adoption: Growing smartphone and internet penetration is accelerating online grocery adoption.
- Demand for Convenience: Consumers increasingly prefer fast, convenient delivery of groceries and daily essentials.
- Expansion Beyond Metros: Tier II and Tier III cities are emerging as key growth markets for quick commerce.
- Profitability Challenges: Delivery costs, inventory management, customer acquisition, and unit economics remain key challenges.
ApnaMart at a Glance
ApnaMart is a Bengaluru-based quick-commerce retail company incorporated in 2021. The company combines neighborhood retail with technology-enabled shopping to serve consumers seeking convenient access to groceries and everyday essentials. Its product portfolio spans fresh groceries, daily essentials, personal care and home products, supported by a rapid-delivery model.
ApnaMart offers fresh groceries, daily essentials, personal care products, and home products, with deliveries targeted within 10–15 minutes.
Key Highlights
| Particulars | Details |
| Legal name | Fleet Labs Technologies Private Limited |
| Founders / Directors | Abhishek Kumar Singh and Chetan Kumar Garg |
| Lastest Valuation | ₹1,360 Cr |
| Total Amount Raised | ₹410 Cr |
| Stores | 100+ |
| Orders | 20 Lacs+ |
| Partners | 100+ |
The Numbers Behind ApnaMart’s Growth
Revenue Performance
| Financial Year | Revenue (₹ Cr) | YoY Growth |
| FY2022 | 4.13 | — |
| FY2023 | 32.20 | 679.69% |
| FY2024 | 62.97 | 95.56% |
| FY2025 | 190.55 | 202.62% |
Key Takeaways
- Explosive early growth: Revenue increased from ₹4.13 Cr in FY2022 to ₹32.20 Cr in FY2023, registering 679.69% growth.
- Growth remained strong: Revenue rose 95.56% in FY2024 to ₹62.97 Cr.
- Growth accelerated: FY2025 revenue surged 202.62% to ₹190.55 Cr.
- Significant scale-up: Revenue grew 46.14x between FY2022 and FY2025, highlighting the rapid expansion of the business.
ApnaMart vs Competitors
ApnaMart operates in India’s competitive quick-commerce market alongside established players such as Blinkit, Zepto, Swiggy Instamart, and BigBasket.
| Company | Key Differentiator |
| ApnaMart | Focus on Tier II & Tier III cities with 10–15-minute delivery through neighborhood retail |
| Blinkit | Large quick-commerce network with a strong presence across major Indian cities |
| Zepto | Technology-led quick commerce focused on ultra-fast delivery and a wide product assortment |
| Swiggy Instamart | Leverages Swiggy’s food-delivery ecosystem and customer base for quick commerce |
| BigBasket | Established online grocery platform with a broad grocery assortment and Tata Group backing |
From Seed to Series C: ApnaMart’s Funding Journey
| Date / Period | Funding Round | Amount (₹ Cr) | Key Investors |
| 15 Mar 2022 | Seed | 18.94 | Peak XV Partners, Disruptors Capital, Titan Capital, Sparrow Capital |
| Dec 2022 – Apr 2023 | Series A / A1 / A2 | 86.64 | Accel India, Peak XV Partners, Titan Capital, Sparrow Capital, Disruptors Capital, Alteria Capital |
| Mar 2025 – Apr 2026 | Series B / B2 / B3 | 179.79 | Fundamentum Partnership, Accel India, Peak XV Partners, 2 a.m. Ventures, Sparrow Capital, Stride Ventures |
| 01 Jul 2026 | Series C | 120.00 | Accel India, Fundamentum Partnership, Peak XV Partners |
Key Takeaways
- Strong Capital Infusion: ApnaMart has raised ₹405.37 Cr across Seed to Series C rounds, providing substantial capital to accelerate its growth and expansion.
- Rapid Funding Momentum: Funding scaled from ₹18.94 Cr in Seed to ₹120 Cr in Series C, reflecting growing investor confidence and providing the company with greater financial capacity to scale.
- Strong Institutional Backing: Continued participation from Accel India, Peak XV Partners, and Fundamentum Partnership provides strategic and financial support as ApnaMart scales.
- Technology & Market Expansion: The latest Series C capital can help ApnaMart strengthen its technology infrastructure, expand its dark-store and delivery network, improve customer acquisition, and increase market reach.
The Future of ApnaMart
Expanding Beyond Metros
ApnaMart’s focus on Tier II and Tier III cities provides an opportunity to benefit from the growing adoption of digital commerce beyond India’s largest metropolitan markets. Its neighborhood-retail approach could help the company build a localized presence in markets where traditional retail remains important.
Strengthening the Retail Network
To support its 10–15-minute delivery proposition, ApnaMart will need to expand its retail network and maintain efficient inventory availability close to customers. Building sufficient order density across locations will also be important for improving operational efficiency.
Sustaining Revenue Growth
ApnaMart’s revenue growth provides a strong foundation for further expansion. Revenue increased from ₹62.97 Cr in FY2024 to ₹190.55 Cr in FY2025, demonstrating the company’s ability to scale rapidly.
Improving Business Economics
The next phase of growth will depend on improving operating efficiency and moving toward profitability. ApnaMart reported an FY2025 EBITDA loss of ₹72.73 Cr and PAT loss of ₹75.82 Cr, highlighting the importance of improving unit economics as the business scales.
Capital for Expansion
The latest ₹120 Cr Series C provides additional capital to support the company’s expansion and growth plans. ApnaMart also reported ₹141.22 Cr in cash and bank balances at the end of FY2025.
Conclusion
ApnaMart’s rapid revenue growth and strong funding support reflect growing investor confidence in its neighborhood-led quick-commerce model. Its focus on Tier II and Tier III cities gives the company a differentiated opportunity to expand beyond major metropolitan markets.
With its continued focus on local retail reach, technology and fast delivery, ApnaMart is well positioned to strengthen its presence in India’s evolving quick-commerce landscape. Its ability to scale efficiently while maintaining a strong customer proposition will be key to its long-term growth
Want to know how companies like ApnaMart are building the next wave of quick commerce? PrivateCircle helps you go beyond the headline with insights into company financials, funding, investors, valuations and growth, so you can track emerging businesses and understand what drives their expansion.