YatriKart has announced a strategic investment from MMG Group. This investment, which sees MMG Group acquiring a stake in YatriKart at a valuation of Rs 100 crore, marks a milestone in the startup’s journey to revolutionise transit retail in India.
The partnership strengthens YatriKart’s position in India’s growing transit retail market. With MMG Group’s backing, YatriKart is preparing for a $10 million venture capital funding round to further accelerate its growth.
The latest funding will be used to scale YatriKart’s franchise network using the FOCO (Franchise-Owned, Company-Operated) and FOFO (Franchise-Owned, Franchise-Operated) models, enhance its technological infrastructure and optimise supply chains through its ‘Quick Commerce for Transit’ app. The company aims to establish over 5,000 smart kiosks and stores across metro hubs, railway stations, highways and airports, thereby enhancing its technology-driven retail ecosystem.
Founded in Indore by Gaurav Rana and Shivangee Sharma, YatriKart is a tech-enabled transit retail chain designed to empower hawkers and small retailers at transit stations. The startup provides a growth platform for small businesses by enabling merchants to scale through channel partnerships, ultimately driving higher profit margins and increased market reach.
Commenting on the investment, Gaurav Rana, Founder and CEO, YatriKart, said, “MMG’s success in building global brands in India adds value to our journey of empowering last-mile retailers and transforming transit retail in Bharat. This partnership allows us to scale rapidly and strengthen our technology-driven convenience ecosystem.”
Through its consumer app, YatriKart is making travel more convenient by enabling customers across Bharat to seamlessly place orders and pick them up at designated transit locations. The startup caters to the needs of travellers, ensuring access to essential products and services while on the go.
Anant Agarwal, Promoter, McDonald’s India and MMG, expressed confidence in YatriKart’s ability to disrupt the transit retail market. He said, “YatriKart is India’s equivalent of Blinkit for transit services. It operates with an asset-light franchise model and leverages advanced technology to penetrate the $21.7 billion transit retail market. We see a tremendous opportunity in this sector, and YatriKart is well-positioned to disrupt this fragmented market and capture a significant share.”
Send news announcements/press releases to:
info@thefoundermedia.com
