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Small-town grocery retail chain SuperK has raised $6 million in a Series A round led by Blume Ventures with participation from Silver Needle Ventures, Veltis Capital, Atrium Angels, and select angel investors and a syndicate. Announced.
According to an official release, the funds raised will be used to expand the reach of the platform to strengthen technology infrastructure, employment, and connectivity between digitally native brands and their customer base.
Neeraj Menta, co-founder of SuperK, said, “At SuperK, we are committed to providing a better grocery shopping experience to our customers in small towns who are currently stuck with the sub-par experience offered by their neighborhood kirana stores. It's our vision.”
Founded in 2020 by Anil Thontepu and Neeraj Menta, SuperK offers a modern grocery store experience to customers in small towns at transparent and affordable prices.
Over the past four years, the Binny Bansal-backed company has served over 500,000 households in over 80 Tier III, IV and V towns in Andhra Pradesh.
Karthik Reddy of Blume Ventures said, “We have been tracking this space for a few years and while the market was hot in Tier III-IV cities, retail was struggling due to a technology supply chain backbone. “But we saw SuperK's meticulous approach in AP.” We believe that paying dividends and achieving store-level profitability is the right way for Bharat to build a modern trade. ”
