Blume Ventures led a $6 million Series A funding round for SuperK, an Indian branded franchised retail chain for small towns in India.
Silver Needle Ventures, Veltis Capital, Atrium Angels, as well as a few angel investors and syndicates, also participated in the round, according to a statement from SuperK.
In order to link digital native brands with SuperK customers, the funding will reportedly be utilized for hiring, platform scaling, and investments in technology infrastructure.
SuperK is an Indian small town franchised retail chain that has been serving more than 500,000 families over the past four years in over 80 Tier 3, 4, and 5 towns in Andhra Pradesh.
Customers are transitioning from disorganized Kirana stores to branded, well-organized retail experiences at SuperK, where most patrons are using self-service for the first time.
The company is giving small-town consumers a contemporary grocery experience at transparent and reasonable costs.
These clients are gradually switching from SuperK’s loose, unclean staples to packed, uniform staples.
SuperK stores are walk-in, 500–1000 square foot stores that carry approximately 2500 stock keeping units (SKUs).
SuperK stands out from other offline retailers in the country due to its use of technology, which allows it to collect detailed data at every transaction and track customer behavior. Offers can be tailored to each individual customer using this data.
The company uses technology to gamify and incentivize its store partners to promote particular sales practices.
Two BITS Pilani classmates, Anil Thontepu and Neeraj Menta, both seasoned businessmen, founded SuperK in 2020.
Thontepu managed growth and product at Hike, Byjus, and Phonepe prior to joining Kaodim, the UrbanClap of Southeast Asia.
In addition to being with Flipkart and Zeta (Directi), Menta co-founded Hungerbox, the largest cafeteria management service in India.
“At SuperK, our vision is to bring a better grocery shopping experience for the small-town customers who are currently stuck with a subpar experience provided by their neighborhood kirana store,” said Menta.
“Our customers have upgraded their lives since a SuperK store came up in their neighborhood, their grocery shopping has moved from a chore to a family shopping experience,
“These customers have discovered new products and upgraded to a healthier choice of staples at SuperK,” he added.
