SuperK raises Rs 100 Cr in Series B round co-led by Binny Bansal and Mithun Sacheti
SuperK plans to use the fund to hire across marketing, operations, and growth functions, and to expand into new towns and adjacent product categories.
SuperK, a value retail chain focusing on small towns, has raised Rs 100 crore in a Series B round co-led by Binny Bansal’s 3STATE Ventures and Mithun Sacheti, Founder of Caratlane.
The round also saw participation from Indian cricketer Shubman Gill, along with existing investors Blume Ventures and Xeed Ventures.
The funds will be used to expand SuperK’s organisational capacity and hire top talent across marketing, store operations, category, and growth functions, according to a statement from the company.
The funding comes at a time when the company is gearing up to expand into newer towns and adjacent product categories. It recently ventured into ecommerce, aiming to offer "value-conscious" families access to everyday essentials such as mixers, cookers, and fans.
“Over the last year, we quietly rebuilt our engine—from building our own POS and launching a consumer app, to introducing our flagship membership programme, which now drives 75% of sales,” said Anil Thontepu, Co-founder of SuperK. “With this new capital, we’re ready to take that engine to 300 more towns across Andhra Pradesh, Telangana, and Karnataka."
Founded in 2020 by BITS Pilani alumni Anil Thontepu and Neeraj Menta, SuperK operates over 130 franchisee-run stores across 80 towns in Andhra Pradesh. It has also developed indigenous point-of-sale (POS) machines with an in-house retail operating system, a consumer-facing and partner app, and a membership programme to improve store-level operations, data collection, and customer retention.
"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 and back SuperK in their next phase of growth,” said Binny Bansal, Founder of investment firm 3STATE Ventures.
Feature image: SuperK Co-founders Anil Thontepu (L) and Neeraj Menta
Edited by Swetha Kannan