Startup VilCart raises $18 mn from investors to expand operations

VilCart, the rural economy-focused technology startup, has raised USD 18 million (Rs 144 crore) from investors to expand operations.

The company raised this amount in a Series A funding round led by Asia Impact SA.

Nabventures Fund and Texterity Pvt Ltd also participated in the round, VilCart said in a statement.

With the use of this fund, VilCart aims to expand its operations to the entire South India by 2024.

VilCart, which was established in 2018 by Prasanna Kumar and Amith S Mali, seeks to revolutionise the rural unorganised retail industry with technology by providing quality products at a competitive price to every rural household with modern supply chain and logistic facilities.