India’s rapidly growing ‘Retail-on-the-Go’ convenience ecosystem, Yatrikart secured a strategic investment from MMG Group. This group is the Indian partner of global giants like McDonald’s and The Coca-Cola Company.
MMG Group invested in YatriKart at an acquiring stake of 100 cr valuation. This investment marks a significant milestone in revolutionizing the retail market in India and to empower the startup’s vision.
Gaurav Rana and Shivangee Sharma founded YatriKart in 2021. The Indore-based startup is a transit retail chain backed by tech that empowers small retailers and hawkers at transit stations. The startup already has 150+ smart retail stores in 7+ cities across India. Yatrikart has enpanelled with brands like Britannia Industries Limited, ITC Limited, Kinley, PepsiCo, Sunfeast YiPPee, and more.
The existing investors in the startup include Artha Venture Fund, Fox Software Ventures, She Capital (SC), and Shuru-Up. These investors have supported YatriKart to expand aggressively across the transit retail sector. With MMG on the side, the startup is also preparing for a venture capital funding round of $10 million to boost the growth.
The recently raised funds will be used to scale YatriKart and grow the franchise network using the FOCO and FOFO models. The startup’s goal is to establish 5000+ smart kiosks and stores in the main metro hubs, railway stations, airports, and more. Enhancing the technology to drive the retail ecosystem.
The promoter of MMG Group, Anant Agarwal expressed confidence in YatriKart saying that the startup is “equivalent of Blinkit for transit services”. With the help of the franchise model and advanced tech, the startup is ready to penetrate in the $21.7 billion transit retail market.
The partnership with MMG Group will help YatriKart with financial backing, also establishing the startup in the global food and beverage market. This valuable collaboration will bring meaningful insights and operational excellence to YatriKart and position the company in India’s growing transit retail market.
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