India's local retailer digitization platform, LoveLocal raised $ 18 million in a pre-Series B funding round led by Vulcan Capital.

LoveLocal claims to be present in more than 35 cities across India ever since it came into establishment last year. In the previous 18 months, the platform has attracted over 100,000 shops and fulfilled over one million orders. It boasts a 55,000-strong online collection of daily necessities that spans 145 categories.

It provides local retailers with a full-stack digitization platform that takes their businesses online, develops their customer relationships, and delivers analytics so that they can better manage their operations.

Several unicorn founders from around the world have invested in the company. ebastian Siemiatkowski, founder of Klarna, one of the biggest BNPL companies in the world, and Nami Zarringham, co-founder of Truecaller, which recently went public, both joined in the latest round. Kevin Aluwi, co-founder and CEO of Gojek had invested in LoveLocal’s Series A round.

During the round, the firm raised $ 5.5 million which is approximately Rs.39 crores from a round led by AC Ventures, Henkel, Candy Ventures including the investments procured from angel investors namely Kevin Aluwi, CEO and Co-Founder of Gojek and Suvir Varma, Board Member and Senior Advisor at Bain & Company, Private Equity.

Indian retail is fueled by more than 60 million small companies, which account for $1.1 trillion in unofficial sales, or more than 95 percent of overall sales. Despite the introduction of e-commerce and new large box retail choices, this unorganized industry has more than doubled in the last five years, with 86 percent of the average Indian consumer's shopping still taking place within 3-4 km of their home, at local neighborhood businesses. As more than a billion Indians go online, local stores on the other hand are still not digitized in any way and must adapt to meet the needs of this new digitally-driven shopper.

This is the largest round ever raised in India by a single woman tech founder, according to the company.

The retailer product from LoveLocal, dubbed ‘Aapki Apni Digital Dukaan’ or ‘Your Online Local Shop’, is a full-suite solution that allows local businesses to go online, digitize their customer interactions, have access to business data and insights, and better manage their operations. Consumers now have their entire neighborhood in the palm of their hand, focusing on daily needs categories such as grocery, chemist, fresh fruits and vegetables, dairy, and more.

"We've always believed in supporting local businesses. They come out on top in every customer category: service, quality, product selection, value, credit, free delivery, and delivery speed. In India, local companies employ more than 40 percent of the population. They are the foundation of our communities and economies. LoveLocal is bridging the technology gap to ensure that our local retailers not only survive, but prosper in India 2.0 and beyond”, says Akanksha Hazari, founder and CEO, LoveLocal.