About Avenue11
Avenue11 is a Retail company based in Bengaluru (India) founded in 2016. It operates as a grocery products are delivered via an online platform and apps. Avenue11 has raised $3.72 million across 1 funding round from investors including Brand Capital. The company has 1 employees. Its chief executive is Nakkyun Chong. Its focus areas include Food and Agriculture Tech, Online Grocery, B2C Ecommerce and Multi Category. Its legal entity in India is Planet11 Ecommerce Solutions India Private Limited (U72900KA2014FTC077102). Its competitors include Blinkit, Bigbasket, Swiggy, Dunzo and Otipy and 2 more; 7 of its 7 listed competitors have raised funding.
Company details
Avenue11 was founded in 2016 in Bengaluru, India, within the e-commerce sector focused on groceries. An online platform is maintained for items including fruits, vegetables, staples, snacks, personal care products, and home essentials. Orders are placed by users through Android mobile applications or web interfaces, supporting delivery operations in the region.
- Headquarters Bengaluru, India
- Employees 1
- SectorsRetail
- Website avenue11.com
- Social X Facebook
- Legal Name Planet11 Ecommerce Solutions India Private Limited
- Date of Incorporation 07 Nov, 2014
- Jurisdiction Bangalore, Karnataka, India
- Net Loss-₹1.73 Cr
FY 2022 · -18561% margin
- EBITDA-₹2.55 Cr
FY 2022 · -27409% margin
- Total Equity Funding$3.72M (USD)
in 1 rounds
- Latest Funding Round$3.72M (USD), Seed
Sep 2018
- Investors
- Employee Count1
Associated legal entities of Avenue11
Avenue11 operates through Planet11 Ecommerce Solutions India Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2022) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Planet11 Ecommerce Solutions India Private Limited CIN U72900KA2014FTC077102 | Active | 07 Nov 2014 | Bangalore, Karnataka | – | 1 | 3 | View details |
Funding Insights of Avenue11
Avenue11 has successfully raised a total of $3.72M through 1 strategic funding round. The most recent funding activity was a Seed round of $3.72 million completed in September 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $3.72M
- Total Rounds 1
- Last Round Seed — $3.72M
- First Round $3.72M
(Sep 2018)
- Investors Count 1
All 1 funding rounds of Avenue11 with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2018 | $3.72M | Seed | – | – |
1 investors in total: 1 institutional.
Investors in Avenue11
Avenue11 has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Brand Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investments in early-stage startups are made by Brand Capital. | – | brandcapital.co.in | Mumbai, India |
Investor details for Avenue11
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Board of directors of Planet11 Ecommerce Solutions India Private Limited (Avenue11)
Planet11 Ecommerce Solutions India Private Limited is the primary company behind Avenue11. The board of Planet11 Ecommerce Solutions India Private Limited currently have 2 directors; the longest-serving is Nakkyun Chong, appointed in 2016. 14 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Nakkyun Chong DIN 07608796 | Managing Director | 08 Sep 2016 | 10 yrs 1 mo | Planet11 Ecommerce Solutions India Private Limited |
| Imranpasha DIN 08744039 | Director | 20 May 2020 | 6 yrs 5 mo | Planet11 Ecommerce Solutions India Private Limited |
People of Avenue11
1 people are tracked at Avenue11 (1 in leadership); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
| Chairman & CEO | Leadership |
Complete people profiles for Avenue11
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Financials of Avenue11
Figures of Planet11 Ecommerce Solutions India Private Limited, the primary company behind Avenue11, for FY 2022. Net loss was -₹1.73 Cr (-18561% margin). EBITDA was -₹2.55 Cr (-27409% margin). Revenue has grown at a compounded annual rate of -91% over three years and -28% over five years.
- -₹1.73 CrNet loss · -18561% margin
- -₹2.55 CrEBITDA · -27409% margin
- ₹22.98 CrPaid-up capital
- 1Employees (provident fund records)
- -91%Revenue CAGR, 3 years
- -28%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Planet11 Ecommerce Solutions India Private Limited are on its company page.
Detailed financial statements for Avenue11
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Timeline of Avenue11
2 dated milestones of Avenue11 across 2 years, from founding to its latest funding, stage changes and deals.
- Founded Avenue11 is founded.
- Funding First funding round of $3.7M.
Competitors of Avenue11
Avenue11 has 7 listed competitors in our database, 7 of them funded. They include Blinkit, Bigbasket, Swiggy, Dunzo and Otipy, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| blinkit.com | 2013 | Gurugram, India | $757.52M | 5,975 | Instant delivery of groceries and essentials is facilitated online. | |
| bigbasket.com | 2011 | Bengaluru, India | $943.07M | 22,095 | Personal and household products are delivered via an e-commerce platform. | |
| swiggy.com | 2014 | Bengaluru, India | $3.62B | 4,953 | Food and grocery items are ordered via an online network. | |
| dunzo.com | 2014 | Bengaluru, India | $449.13M | 195 | Operates an on-demand hyperlocal delivery app for food and groceries. | |
| otipy.com | 2020 | Gurugram, India | $44.2M | 87 | Grocery products are provided via an online digital storefront. | |
| ondoor.com | 2014 | Bhopal, India | $3.42M | 36 | Provider of online platform offering grocery, household items, cakes, and flowers | |
| unorg.in | 2022 | Lucknow, India | $2.33M | 68 | Multi-category grocery products are provided through an app-based marketplace platform. |
Detailed competitors of Avenue11
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Top companies in Food & Grocery Retail
10 companies that operate in the same segment as Avenue11 (Food & Grocery Retail), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Food and grocery deliveries are facilitated through an app-based platform. | 2013 | San Francisco, California, United States | USD 2.5 B | USD 10.72 B | 80,579 | |
Food and grocery items are ordered via an online network. | 2014 | Bengaluru, Karnataka, India | USD 3.62 B | USD 2.46 B | 4,488 | |
Meal recipe kits are delivered through a weekly subscription service. | 2011 | Berlin, Berlin, Germany | USD 367.28 M | USD 1.51 B | 17,595 | |
Online marketplace offering multi-category grocery products | 2015 | Barcelona, Catalonia, Spain | USD 1.16 B | – | 15,437 | |
Personal and household products are delivered via an e-commerce platform. | 2011 | Bengaluru, Karnataka, India | USD 943.07 M | USD 1.17 B | 22,095 | |
Instant delivery of groceries and essentials is facilitated online. | 2013 | Gurugram, Haryana, India | USD 757.52 M | – | 11,913 | |
Multi-category products are delivered quickly through an online platform. | 2020 | Bengaluru, Karnataka, India | USD 2.35 B | USD 344.05 K | 40,578 | |
Organic groceries are offered through an online membership platform. | 2013 | Los Angeles, California, United States | USD 332.18 M | – | – | |
Online marketplace platform offering multi-category grocery products | 2012 | San Francisco, California, United States | USD 2.93 B | USD 3.74 B | 25,408 | |
Platform offering food and grocery delivery services | 2013 | London, England, United Kingdom | USD 2.95 B | USD 2.59 B | 11,488 |
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Related news about Avenue11
Complete news archive for Avenue11
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Frequently Asked Questions about Avenue11
Avenue11 was founded in 2016 and raised its 1st funding round 2 years after it was founded.
Avenue11 is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Nakkyun Chong is the current CEO of Avenue11.
Avenue11 is a funded company, having raised a total of $3.72M across 1 funding round to date. The company's 1st funding round was a Seed of $3.72M, raised on Sep 2018.
Avenue11 has 1 employees.
Annual revenue of Avenue11 is $1.12K as on Mar 31, 2022.
Avenue11 was founded in 2016 in Bengaluru, India, within the e-commerce sector focused on groceries. An online platform is maintained for items including fruits, vegetables, staples, snacks, personal care products, and home essentials. Orders are placed by users through Android mobile applications or web interfaces, supporting delivery operations in the region.
Avenue11 has 1 investor. Key investors include Brand Capital.
Avenue11 operates through Planet11 Ecommerce Solutions India Private Limited.
The legal entities of Avenue11 currently have 2 directors, including Imranpasha, Nakkyun Chong.