Quick-commerce fulfilment startup Blitz has raised Rs 28.70 crore in a pre-Series B funding round led by existing investor IvyCap Ventures. The company’s board approved the allotment of 21,883 compulsorily convertible preference shares (CCPS) at an issue price of Rs 13,118 per share.
IvyCap Ventures led the latest round with an investment of Rs 12.70 crore. ICMG Group invested Rs 4.75 crore, while Vishal Dhupar contributed Rs 2.50 crore. Several other angel investors also participated in the round, collectively contributing the remaining amount.
According to Entrackr’s estimate, Blitz’s post-money valuation has increased around 2.5X to Rs 440 crore from Rs 175 crore during its Series A round. The company may raise additional capital as part of the current round, which could further increase its post-money valuation.
The filings with the Ministry of Corporate Affairs show that Blitz plans to use the newly raised capital for business growth, expansion and general corporate purposes.
The latest fundraise follows Blitz’s Rs 51 crore Series A round in November 2024, which was also led by IvyCap Ventures. The new financing gives the company additional capital as it continues to expand its quick-commerce fulfilment network.
Founded in 2020 by Gaurav Piyush, Mayank Varshney and Yash Sharma, Blitz helps ecommerce and direct-to-consumer brands provide 10-minute, 60-minute, same-day and next-day deliveries. The company operates a network of dark stores and fulfilment centres that support faster order fulfilment while helping brands drive sales and customer retention.
Following the latest share allotment, IvyCap Ventures remains Blitz’s largest external shareholder with a 23.47% stake. India Quotient holds a 15.31% stake, while AL Trust owns 3.29%. ESOPs and MSOPs account for 12.88% of the company.
Among Blitz’s co-founders, Yash Sharma and Mayank Varshney each hold an 11.53% stake, while Gaurav Piyush holds 6.72%.
The company’s investor base also includes angel investors Kunal Bahl and Rohot Bansal, co-founders of Snapdeal, who each hold a 0.59% stake. QED Innovation Labs, associated with Kunal Shah, Global Head of WhatsApp, and Farid Ahsan, Founder and CEO of General Autonomy, each hold a 0.34% stake.
Blitz has not yet filed its financial results for FY26. According to the company’s FY25 financials, its operating revenue increased 2.28X year-on-year to Rs 50.6 crore from Rs 22.18 crore in FY24. During the same period, its losses increased 2.18X to Rs 24.33 crore from Rs 11.17 crore.
The company, previously known as Grow Simplee, is continuing to build its fulfilment infrastructure for ecommerce and D2C brands. With the latest pre-Series B funding, Blitz plans to deploy capital toward business growth, expansion and general corporate requirements as it continues to develop its quick-commerce fulfilment operations.
