VilCart, a rural-economy focused technology platform, has raised Rs 15 crore in a funding round led by Nabventures Fund, a venture capital fund started by the National Bank for Agriculture and Rural Development (NABARD).

The funding round also saw participation from existing investors Prashanth Prakash of Accel Partners, SJ Ashok, and Nagaraj R.

VilCart | Bridge To Rural Kirana

Started by Prasanna Kumar C and Amith S Mali, Vilcart is revolutionizing the rural unorganized retail industry through technology, a robust supply chain, and logistic facilities. 

The startup is present in 20 districts of Karnataka and one district each in Tamil Nadu and Andhra Pradesh, with aims to expand across the country in two years.

Speaking on the development, Prasanna Kumar C, Co-founder and CEO of VilCart, said,

“We are a rural-to-rural company where we procure from rural manufacturers/farmers and sell to rural consumers including farmers by creating a rural dedicated digital supply chain.”

Vilcart‘s motto is sustainable rural development through stability for rural retailers. As per the startup, it is essential to eradicate the urban-rural divide for consumers. That is why Vilcart is providing the opportunity and convenience which an urban retailer gets.

G R Chintala, NABARD and Nabventures chairman, said it is looking to support the digitalisation of rural distribution channels through investment. He also pointed out that rural consumption data at a granular level is highly valuable.

This funding in VilCart is the eighth investment for Nabventures Fund since its launch in August 2020. As per an official statement, the fund has invested Rs 106 crore of the Rs 375 crore it has raised, adding that it has a target to raise Rs 500 crore with a greenshoe option to retain another Rs 200 crore.

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