1-India Family Mart Raises $12 Mn In Series D Round

Value retail chain India Family Mart has raised $12 million in its Series D funding round.

The round saw participation from a mix of existing and new investors, including Gulf Islamic Investments, Singapore-based Foundation Private Equity, Carpediem Capital Partners, Capri Global Holdings, a consortium of high-net-worth individuals and promoter JP Shukla.

The proceeds will help the company grow its retail presence in the value shopping segment. It plans to reach ₹600 crore in revenue and open 100 stores by 2029, mainly in North and East India.

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"The company’s focused approach to serving the underserved markets of Tier II, III, and IV cities, combined with its robust operational model and exciting growth trajectory, lays the foundation for building a strong leadership position in India’s value retail sector," said Hithendra Ramachandran, Managing Director at Carpediem Capital.

About 1-India Family Mart

Founded in 2012 by Jay Prakash Shukla and Ravinder Singh, 1-India Family Mart caters to underserved markets through mid-sized stores in tier III and IV towns and villages across India. 

It has over 65 stores in 10 states, mostly in Tier II, III, and IV cities. The company follows a zero-reverse logistics model, meaning all items shipped are sold, including clothing, lifestyle products, and general goods.

It runs its operations through a central warehouse in Gurugram and follows a zero-reverse logistics policy, meaning all products sent to stores are sold, which helps reduce waste and improve efficiency.

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