SuperK raises $5.5 million in pre-series A round
Hyderabad: SuperK, a tech-enabled grocery retail chain for small towns, has raised $5.5 million (about Rs 41.2 crore) in its pre-series A round.
The round was led by venture capital investment firm 021 Capital with participation from other investors. SuperK plans to use this for expansion, enhancing technology and supply chain infrastructure.Poor sourcing and lack of access to technology have prevented small, rural retailers from taking advantage of the market opportunity.
SuperK has built a system that enables franchise stores to offer standardised pricing, consistent quality, discounts, cashback, and digital billing. SuperK manages procurement, marketing, promotions, and merchandising for all stores through tech systems and a standard operating plan.
“We plan to reach 200 plus stores by the end of next year,” said Neeraj Menta and Anil Thontepu, Co-Founders, SuperK.
Sailesh Tulshan, Founder – 021 Capital said: “India’s non-metropolitan customers’ aspirations and consumption powered by steady growth in their incomes have been driving demand over the last few years. This is accelerating the grocery category towards organised retail in these tier 3 towns in the country.”
“SuperK’s business model is asset-light and operates with minimal working capital. Individual franchise partners are seeing multi-fold growth in their monthly incomes,” said Sailesh Tulshan, Founder, 021 Capital.
Over the past year, SuperK has co-created close to 50 stores and serves over one lakh families. SuperK is hiring for sales and marketing, technology and product, analytics and data science roles.
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