Indian social commerce startup CityMall nets $22.5m in funding

India-based social commerce startup CityMall has raised US$22.5 million in its latest funding round.

More funding details:

• Lead investors: General Catalyst and Jungle Ventures
• Other investors: Accel, Elevation Capital, and WaterBridge Ventures
• Stage: Series B

More company updates:

• CityMall says it will use the fresh funds to make new hires, invest in its technology, and build out its logistics network, which includes warehouses and hubs.
• It also aims to strengthen its presence in 40 towns in its network in India and expand its reach to 100 new towns in the coming months.
• The company has so far raised US$36.5 million in funding. The new round comes after CityMall raised US$11 million in a series A funding round led by Accel Partners in March this year.
• Founded in 2019, CityMall is a community-based ecommerce platform targeted at consumers in Tier 2, Tier 3, and Tier 4 towns in India.

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.