Yatrikart, tech-enabled transit retail chain, has raised $450,000 in a Seed funding round from Shuru-Up’s Digital platform and Artha Venture Fund. The newly raised fund will be utilized to expand the platform’s infrastructure, improve technology and hire talent.
Shuru-Up is a digital ecosystem that simplifies startup fundraising and providing investors with primary and secondary investment opportunities. Commenting on the funding, Team Shuru-Up said, “We believe that it is very difficult to find a startup which solves a problem faced by each and every individual. After meeting the Yatrikart team, it was a no-brainer to join the on their journey as they solve the problem of transit retail.”
“After the pandemic, the changing landscape of travelers’ needs has got us to focus on the real problem of meeting the demand and supply gap at transit depots. While solving this problem, we crafted our mission to empower the last mile entrepreneurs of India at transit stations and in trains while building a trusting brand for Indian travelers,” said Shivangee Sharma, co-founder, Yatrikart.
Yatrikart, currently, has more than 25 stores and carts, serving millions of customers yearly at railway stations, bus and taxi stands. The stores and formats are tailored to meet the customers’ travel needs. The startup also aims to open more than 100 new formats by 2023, claimed by the startup in a statement.
“The retail on-the-go segment holds immense growth potential. However, the team Yatrikart has introduced a method to the madness by streamlining on otherwise fragmented operation of standalone merchants and hawkers at transit hubs like metros, railways, highways, bus and taxi stands. We are excited about Yatrikart as it is the second investment from Artha access program that focuses on the pre-Seed funding segment,” said Anirudh A Damani, managing partner, Artha Venture Fund.