A Series A fundraising round led by Blume Ventures has secured $6 Mn (about INR 50 Cr) for SuperK, a digital franchised grocery shop for rural areas. Silver Needle Ventures, Veltis Capital, Atrium Angels, and a few more angel investors and syndicates additionally participated.
The company intends to use the additional funding for employment, tech advancement, and platform scalability to link SuperK clients via digital native firms.
SuperK is the fastest-growing supermarket chain in Andhra Pradesh and Telangana, with 100+ stores across Kadapa and Anantapur.
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The business claims that its consumers are switching from disorganised kirana stores towards branded, well-organized stores, with the majority of them visiting a self-service shop for their initial visit.
With its tech-enabled, data-driven processes and inventory-light business model, SuperK is enabling company owners from small towns to effortlessly own and run supermarkets while reaping the benefits of large-scale branding, marketing, procurement, and intelligence.
About SuperK
In 2020, Anil Thontepu and Neeraj Menta, who were classmates at BITS Pilani, launched SuperK. Their family’s firm, which has its roots in Andhra Pradesh, has long involved the trading of FMCG and staple goods, which has led to extremely natural incentives and market expertise.
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