New Delhi, May 26 (PTI) Grocery focussed B2B quick commerce firm Fairdeal.Market has raised USD 15 million in a funding round led by Bertelsmann India Investments, the company said on Tuesday.
WaterBridge Ventures and Incubate Asia Fund also participated in the round.
"Fairdeal.Market, a B2B quick commerce platform building the replenishment infrastructure for India's kirana economy has raised USD 15 million, about Rs 143 crore, in a funding round led by Bertelsmann India Investments (BII)," the statement said.
Fairdeal currently operates across Delhi NCR and is actively expanding its retailer network, dark store footprint, and brand partnerships.
"The fresh capital will be deployed to scale dark-store operations across dense urban clusters, strengthen technology and data infrastructure, deepen retailer engagement, and expand last-mile delivery capabilities to redefine the retail business in India," the statement said.
Fairdeal claims to be India's first B2B quick commerce platform which delivers over 1,000 product range to kirana retailers across Delhi NCR within 60 minutes.
In the last six months, Fairdeal has scaled to over 20,000 active retailers across Delhi NCR.
India is home to over 13 million kirana stores but inventory procurement for these retailers still largely depends on offline wholesale markets and fragmented distributor networks that were never designed for small-format, high-frequency retail, the statement said.
Fairdeal estimates Delhi NCR alone accounts for approximately 260,000-280,000 retailers.
"Building on its Delhi NCR foundation, Fairdeal will leverage this round of funding to accelerate its expansion into new metropolitan cities across India. The company aims to scale its retailer network to over 100,000 retailers within the current financial year," the statement said.
Fairdeal, Co-Founder Prateek Bansal said India's kirana stores are the backbone of the country's retail economy, yet the procurement infrastructure serving them has barely evolved in decades.
"If we can help millions of small retailers operate better every day, the impact will go far beyond commerce, it will strengthen local economies across the country," Bansal said.
Bertelsmann India Investments, Partner, Rohit Sood said that FairDeal is building a new operating model for wholesale procurement in India.
"We are excited to partner with them on this ambitious journey," he said.