Convenience store start-up AMPM on Tuesday said it has raised Rs 1.6 crore funding through Agility Venture Partners, an angel investor platform. “AMPM, which aims to be India’s answer to 7-Eleven, has raised INR 16 million funding. With live outlets in five cities, the company has raised these funds through Agility Venture Partners, an angel investor platform,” the company said in a statement.
Agility Venture Partners, a New Delhi-based investor fund, has planned to invest in 30 start-ups across 2021 and launch its venture capital fund by September. Backed by a group of 440 investors across five chapters in India and Dubai the fund has raised about Rs 7 crore for brands like Power Gummies, Vanity Wagon, CivilCops and earlier, the statement added. Shubham Gupta said the AMPM store will provide Indian and global products across categories like grocery, bakery, confectionery, stationery, pharmacy and F&B (food and beverages).
“We have a 24 hours live kitchen cafe with a sit-out, moreover 24hours delivery is also available…We aim to expand to 10 cities by the end of 2021, with at least fifteen live stores across northern India. This will expand to 15 plus cities in the next year,” he added.