# Local Cube Commerce Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/local-cube-commerce-pvt

- Industry: Internet
- Headquarters: Bangalore, India
- Website: www.storeking.in
- Total disclosed funding: $17M
- Latest round: Series D (Oct 30, 2021)
- Investors on record: 3

## About

Local Cube Commerce Pvt. Ltd. operates an innovative online supermarket platform tailored for small-town retailers in India, enabling them to shift to digital storefronts and improve consumer accessibility to a wide product range.Founded in 2011 and headquartered in Bangalore, India, Local Cube Commerce Pvt. Ltd. is dedicated to empowering local Kirana stores through its digital platform. The company raised INR 213.36 million in its latest Series D funding round on October 30, 2021, bringing its total amount raised to INR 213.36 million. The firm has completed 9 deals to date. Sridhar Gundaiah serves as both the founder and CEO, with a history of leading entrepreneurial ventures.StoreKing provides a technologically advanced online supermarket platform for small-town retailers, allowing them to move from traditional sales to digital storefronts. The platform features over 5,000 products, including local and national brands, accessible via the CLUB app, where customers earn CLUB Coins for purchases, redeemable for discounts. StoreKing ensures rapid delivery within 30 minutes, addressing consumer demand for convenience while enhancing local retailers' market presence.In the most recent fiscal year of 2023, StoreKing reported a revenue of INR 33,806,027.80 with an EBITDA of -INR 2,646,018, reflecting its operational metrics amid ongoing investments in growth and technology.Local Cube Commerce Pvt. Ltd. aims to significantly expand its reach within the Indian market, focusing on small towns and rural areas with plans to enhance its product offerings on the CLUB platform. The recent funding of INR 213.36 million from Mangrove Capital Partners will support the development of new features and services, as well as bolster marketing efforts to attract more retailers and consumers. The company is strategically positioned to maximize its impact on digital retail by optimizing its delivery systems while continually enhancing the user experience.

## Funding rounds

- Series D, Oct 30, 2021, $2.8M — Mangrove Capital Partners
- Series D, Feb 4, 2021, $3.2M — Mangrove Capital Partners, Axiata Group, SilverCap Partners
- Series D, Aug 7, 2019, $9M — Mangrove Capital Partners, SilverCap Partners
- Series B, Mar 31, 2014, $1.9M — Mangrove Capital Partners

## Investors

- Mangrove Capital Partners (https://capitalatlas.ai/funds/mangrove-capital-partners) — Series B, Series D
- SilverCap Partners — Series D
- Axiata Group — Series D