Overview

• The $47 million round was led by Accel with participation from Waterbridge Ventures, Citius, General Catalyst, Elevation Capital, Norwest Venture Partners, and Jungle Ventures, bringing total funding to $165 million.
• Citymall serves value-conscious shoppers in 60+ cities across northern India through a marketplace that uses community leaders for fulfillment, offers next-day delivery, and charges no handling or delivery fees.
• Management says the new capital will expand delivery and distribution, grow private-label lines, deepen brand partnerships, and fund hiring across technology, product, and operations.
• Profitability remains contested, with Entrackr citing more than 30% negative EBITDA last fiscal year as the company asserts operational profitability without a timeline for overall profits.
• Sources familiar with the deal say the flat $320 million valuation reflects an investor benchmark of roughly 4x past-year revenue as Citymall positions against quick-commerce apps and larger marketplaces.