Small format retail tech grocery chain platform Frendy has raised Rs 2 crore or about $239K in a debt round led by UC Inclusive Credit. The startup has collectively raised a total of Rs 42 crore to date.

Frendy’s existing investors include Auxano Capital, AT Capital (Singapore), Desai Ventures, Let’s Venture, MARV Capital (New York), and Metara Ventures (Singapore).

The funding will be used to fund its central inventory needs to feed its network of Frendy Marts & Micro Kiranas in tier III towns of Gujarat. The firm claims to have a revenue of Rs 82 Cr for FY23 and aims to double its sales in the next 12 months as the brand expands its geographical footprint.

Founded in 2019 by Sameer Gandotra , firm is building a network of modern neighborhood grocery mini marts for consumers in small towns and villages of India.

Ahmedabad-based firm currently operates 25 marts and 2,000 micro kiranas across rural Gujarat. It aims to scale it’s business to 100 marts and 3,000 micro kiranas in the next 12 months.

Frendy’s marts are also digitally connected to a cluster of micro-kiranas (mom-and-pop stores) and their end customers, allowing Frendy to build a last mile digital commerce bridge to serve a wider range of rural consumers.

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