Gurugram-based CityMall is pushing sales of affordable private labels and expanding operations within its existing markets as it scales a grocery-led ecommerce platform for value-conscious consumers.
The company is present in 18 markets in North India, mostly tier-2+ and smaller cities, generating around Rs 120 crore in monthly gross merchandise value. Groceries make up 80% of the sales and general merchandise the rest. Management expects the overall business to grow 50-60% year on year. Currently, the platform handles 65,000 to 70,000 orders daily with an average order value of Rs 500. Most of these are scheduled deliveries, rather than the 10-minute, two-hour or same-day fulfilment models more common in metros.
In terms of unit economics, CityMall says it earns a profit of Rs 18 per order. Two of its markets, Varanasi and Prayagraj in Uttar Pradesh, are already fully profitable. The company's revenue from operations rose 20% from Rs 459.5 crore in FY24 to Rs 551.2 crore in FY25. Losses were largely unchanged at Rs 159 crore.
Angad Kikla, Naisheel Verdhan and Rahul Gill founded CityMall in 2019. They attempted a community-commerce model in the initial years before pivoting to a direct-to-consumer structure in 2022. On the funding front, CityMall has raised $153 million so far and was last valued at almost $300 million, Tracxn data shows. In September 2025, it secured $47 million from institutional investors including WaterBridge, Accel, General Catalyst, Elevation Capital, Norwest and Jungle Ventures. The Indian retail market is estimated at about $1 trillion, with food and grocery forming nearly 60% of that. The $600-billion food and grocery segment continues to be dominated by kirana shops; ecommerce penetration is below 2%, while modern trade accounts for another 5-6%.
In terms of unit economics, CityMall says it earns a profit of Rs 18 per order. Two of its markets, Varanasi and Prayagraj in Uttar Pradesh, are already fully profitable. The company's revenue from operations rose 20% from Rs 459.5 crore in FY24 to Rs 551.2 crore in FY25. Losses were largely unchanged at Rs 159 crore.
Angad Kikla, Naisheel Verdhan and Rahul Gill founded CityMall in 2019. They attempted a community-commerce model in the initial years before pivoting to a direct-to-consumer structure in 2022. On the funding front, CityMall has raised $153 million so far and was last valued at almost $300 million, Tracxn data shows. In September 2025, it secured $47 million from institutional investors including WaterBridge, Accel, General Catalyst, Elevation Capital, Norwest and Jungle Ventures. The Indian retail market is estimated at about $1 trillion, with food and grocery forming nearly 60% of that. The $600-billion food and grocery segment continues to be dominated by kirana shops; ecommerce penetration is below 2%, while modern trade accounts for another 5-6%.