Wheelocity, a semi-urban commerce platform, has secured USD 15 million in an extended Series A funding round, led by existing investor Lightspeed, with participation from Alteria Capital, Anicut Capital, and the company’s founder. This follows a previous USD 12 million raised in July 2022, bringing the total Series A funding to USD 27 million.
Founded in September 2021 by Selvam VMS and Senthil Kumar, Wheelocity has quickly scaled its operations and claims to have expanded into over 3,500 towns and villages, serving one million consumers. The new funding will enable the company to accelerate its growth, with plans to extend its reach to 20,000 towns and villages over the next year, targeting a 10 million consumer base.
The funds will support key investments in Wheelocity's proprietary technology stack, its direct reach network, and teams across category management, operations, product, and engineering.
Previously focused on supplying fresh produce to quick-commerce companies like Swiggy Instamart, Dunzo, Blinkit, and Zepto, Wheelocity pivoted in 2023 to a business-to-consumer (B2C) model, allowing it to directly serve consumers in underserved semi-urban and rural markets. The company aims to bridge the commerce access gap for India’s next 800 million consumers—those in regions still largely excluded from organised commerce platforms.
The company combines technology with supply chain innovation to provide a hybrid offline-online model designed for first-time users of organised commerce, addressing the unique challenges of these underserved markets.
While city’s platform focuses on delivering essential goods like fresh produce and groceries to semi-urban India, with plans to expand into discretionary caWheelocity has not yet filed its annual financial report for FY24, the company reported an operating revenue of Rs 117 crore and a loss of Rs 12.56 crore in FY23.
The fresh funding marks a significant step in the company’s journey to transform the commerce landscape for India’s semi-urban and rural populations, where over 800 million people remain underserved by traditional e-commerce platforms. With an aggressive growth plan and innovative approach, Wheelocity is poised to expand its footprint in one of India’s fastest-growing and least-served markets.