Chennai-based startup Wheelocity raises $15 million

CHENNAI: Commerce startup Wheelocity has raised $15 million. The funding would be utilised for various purposes including expansion of its operations in southern states.

Currently, the fresh and grocery B2C supply chain platform , which is focussed on the semi-urban and rural markets, has operations only in Tamil Nadu.

"We have a presence in more than 3,500 towns and villages. We are now looking to expand to about 20,000 villages over the next 12-14 months. The funds will be utilised for expansion, building our technology stack and our teams across category, operations, product and across supply chain," Selvam VMS, founder and CEO, Wheelocity, said.

The funding round was led by existing investor Lightspeed with participation from Alteria Capital, Anicut Capital and the company’s founder, Wheelocity said in a statement.

Commencing operations in 2022, it is the second fund raise by the startup. The Chennai-headquartered firm raised $12 million in 2022.