McDonald’s, Coca-Cola partner MMG Group invests in YatriKart at Rs 100 crore valuation

YatriKart, a 'Retail-on-the-Go' convenience ecosystem, has raised an undisclosed amount in funding from MMG Group, the Indian partner of global giants McDonald's and Coca-Cola, acquiring a stake at a valuation of Rs 100 crore.

The round also saw participation from existing backers, including Artha Venture Fund, Fox Software Ventures, She Capital, and Shuru Up.

What does YatriKart do?

Founded by Gaurav Rana and Shivangee Sharma, YatriKart empowers last-mile retailers by creating a network of small, tech-enabled retail kiosks and stores at high-traffic transit points. 

The startup supports small businesses by helping merchants grow and offers channel partnerships for higher profit margins and growth opportunities. It is preparing for a $10 million venture capital funding round to accelerate its growth.

Purpose of fundraising

With this round of funding, YatriKart will focus on expanding its Franchise Network using FOCO and FOFO models, enhancing tech infrastructure, and optimising supply chains with the 'Quick Commerce for Transit' app. 

It aims to establish over 5,000 smart kiosks and stores at metro hubs, railway stations, highways, and airports, enhancing its technology-driven retail ecosystem.

"MMG's success in building global brands in India adds tremendous 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," said Gaurav Rana, who is also the CEO of YatriKart.

He added that the MMG investment aligns perfectly with YatriKart's vision of building a 'Complete Out-of-Home Convenience Ecosystem' by expanding beyond retail into tech-enabled services at highways, hospitals, colleges, petrol pumps, and transit hubs.

Investors comment

Anant Agarwal, McDonald's India and MM Agrawal Group (MMG) promoter, 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 highly fragmented market and capture a significant share." 

Through its consumer app, YatriKart allows travellers across to place orders and pick them up. The startup addresses the needs of consumers on the go or in transit. It is a one-stop solution for all out-of-home requirements, offering goods and essential services in one convenient location.

Its smart kiosks and stores provide a seamless blend of convenience by catering to impulsive retail needs and offering quick services such as parcel drop-off, bag deposits, micro-ATMs, and essential utilities for consumers anytime and anywhere.