Hyperlocal eCommerce platform LoveLocal has raised $18 million (Rs 143 crore) in a pre-Series B round led by Vulcan Capital. The funding round also saw participation from Klarna Founder and CEO Sebastian Siemiatkowski’s Flat Capital and Alumni Ventures Group and Commerce Ventures.

Angel investors, including Sarah Jones Simmer (CEO of Found, and ex-COO of Bumble ), Nami Zarringhalam (Co-founder, Truecaller ), Anna Lambert (Director of Product Acceleration at Shopify ), Arpan Sheth (Senior Partner at Bain & Company), and others, also participated in the oversubscribed round.

LoveLocal | Digitising & Organising Local Retailers

Launched by Akanksha Hazari in January 2020, LoveLocal is digitising & organising local retailers to deliver the neighbourhood shopping experience of the future.   

The startup is empowering local retailers and helping digitise the $1.1 trillion unorganised retail market. 

Speaking on the development, Akanksha Hazari, Founder and CEO of LoveLocal, said,

“We have always believed in the local retailer. They win on every consumer consideration: service, quality, product selection, value, credit, free and speed of delivery. Local businesses also account for more than 40 percent of jobs in India. They are the bedrock of our communities and the economy. LoveLocal is bridging the technology gap to ensure that our local retailers not just survive but thrive in India 2.0 and beyond.”

LoveLocal claims to be having one of India’s largest online catalogues of daily essential items, with 55,000 products sold across 145 categories.

As per LoveLocal, it has grown 40X since its inception. Additionally, in just 18 months, the startup has signed up over 100,000 retailers and fulfilled more than one million orders. Presently, the hyperlocal eCommerce platform has a presence in over 35 cities and more than 1300 pin codes across India.

Existing investors, Blume Ventures, AC Ventures, HenkelX Ventures, and Chiratae Ventures also invested in this funding round, with Candy Ventures significantly increasing its ownership in the startup.

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