Hyperlocal e-commerce startup LoveLocal (formerly m.Paani) has raised $18 million in its pre-Series B round led by Vulcan Capital. Flat Capital and Alumni Ventures Group and Commerce Ventures have also joined the new round.
Existing backers – Blume Ventures, AC Ventures, HenkelX Ventures, and Chiratae Ventures — also invested, with Candy Ventures significantly increasing its ownership in this round.
Founded in 2020 by Akansha Hazari, LoveLocal empowers local retailers and helps digitise the unorganised retail market. In just 18 months, LoveLocal has signed up over 100,000 retailers and fulfilled more than one million orders. It continues to grow over 35 percent monthly.
The startup claims to have grown 40-folds since its inception. At present, it serves in over 35 cities and more than 1300 pin codes across India.