Retail chain SuperK raises Rs 100 cr from Binny Bansal, Sacheti and others

Company to use Series B funding to expand its tech-driven franchise network in 300 towns

Value retail chain SuperK has raised Rs 100 crore in a funding round led by Binny Bansal’s 3STATE Ventures and CaratLane founder Mithun Sacheti, with participation from cricketer Shubman Gill and existing investors Blume Ventures and Xeed Ventures.

 

The company will use the Series B funding to expand organisational capacity, hiring, and expand business in 300 new towns.

 

Grocery retail is a $600 billion market and small towns account for more than 80 per cent of the spend, said SuperK in a statement. Organised retail serves less than 5 per cent of the market, presenting a “massive opportunity” for trusted, tech-enabled formats. 

 

"SuperK aims to dominate this white space by creating a value-first supermarket chain, akin to Costco, but for small-town India, powered by local franchisees, proprietary technology, and a deeply loyal customer base," said the company. SuperK runs 130 franchisee-format stores in 80 towns in Andhra Pradesh.

 

Founded in 2020, SuperK has indigenous POS (point of sale) machines with an in-house retail OS (operating system), a consumer-facing app, and a partner app to streamline daily operations at the store level. Its ecommerce business sells groceries, mixers, cookers, fans, and coolers.

 

"Over the last year, we quietly rebuilt our engine — from building our own POS and launching a consumer app, to introducing our flagship membership program, which now drives 75 per cent of sales,” said Anil Thontepu, SuperK 's cofounder. “With this new capital, we’re ready to take that engine to 300 more towns across Andhra, Telangana and Karnataka."

 

Neeraj Menta is the other cofounder of SuperK.

 

Binny Bansal said: "SuperK is well-positioned to reimagine retail in deeper Bharat by empowering entrepreneurs from these towns to easily own and operate supermarkets. We’re excited to continue supporting their vision of offering a better grocery shopping experience to small-town customers."