SuperK, an online grocery retailer, has secured $5.5 Mn in a Pre-Series A round led by Binny Bansal-backed 021 Capital and other investors

• ByStartupStory     |    March 29, 2022

SuperK, a Hyderabad-based tech-enabled franchised grocery retailer for small towns, announced on Monday that it had secured $5.5 million in a pre-series A round led by Binny Bansal’s 021 Capital, alongside additional investors.

Curefoods creator Ankit Nagori, Razorpay founders MarsShot Ventures, Blume Founders fund, xto10x co-founder & CEO Saikiran Krishnamurthy, Ula founder & CEO Nipun Mehra, and public market investor Ashish Kacholia (Public market investor) are among the participants, in addition to previous investors.

SuperK wants to use the funds to expand its business, establish a strong team and brand, and improve its technology and supply chain infrastructure, according to the company. According to SuperK co-founders Neeraj Menta and Anil Thontepu, who are BITS Pilani batchmates, the firm hopes to swiftly scale and reach over 200 stores across more than 120 towns in Andhra Pradesh by the end of next year.

Over the last year, SuperK has co-created close to 50 outlets in 20 towns across Andhra Pradesh’s Kadapa and Anantapur districts, serving over one lakh families. It also stated that it intends to hire in the areas of sales and marketing, technology and product development, and analytics and data science.

SuperK is a franchised grocery retail chain that was founded in 2019 with the goal of bringing modern retail to small towns in India (tier 3 and beyond). Its data-driven and technology-backed processes enable SuperK to operate on an asset-light, franchised supermarket retail chain structure.

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