In a Series A round headed by Blume Ventures, SuperK, a branded franchised retail network for small towns in India, has raised $6 million. In a related move, Madison India Capital has acquired a portion of many portfolio companies from Chiratae Ventures.
The business SuperK, a branded franchised retail network for small towns in India, revealed on Wednesday that it had raised $6 million in its Series A fundraising round, which was spearheaded by Blume Ventures.
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According to a statement from the business, Silver Needle Ventures, Veltis Capital, Atrium Angels, as well as a few angel investors and syndicates, also participated in the fundraising.
The statement also stated that the investment will be utilized for hiring, expanding the platform, and investing in technical infrastructure to link digital native companies with SuperK customers.
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SuperK was established in 2020 by two BITS Pilani classmates, Anil Thontepu and Neeraj Menta. The company presently provides services to more than 5 lakh families in more than 80 tier 3, tier 4, and tier 5 towns in Andhra Pradesh.
About SuperK
SuperK, which was founded by seasoned businesspeople from BITS Pilani, enables small-town business owners to effortlessly own and run supermarkets with the help of its tech-enabled, data-driven systems and inventory-light business model, as well as the advantages of large-scale branding, marketing, procurement, and intelligence.
