Value retail chain SuperK raises Rs 100 crore from Binny Bansal, Mithun Sacheti, Shubman Gill and others

Value retail chain SuperK raises Rs 100 cr from Binny Bansal, Mithun Sacheti to expand small-town retail footprint

Value retail chain SuperK has raised Rs 100 crore in a Series B funding round co-led by Binny Bansal’s 3STATE Ventures and CaratLane founder Mithun Sacheti, with participation from cricketer Shubman Gill and existing investors Blume Ventures and Xeed Ventures.

The Andhra Pradesh-based startup plans to use the capital to strengthen its core team and expand into new towns in South India.

“This funding will help us scale to 300 more towns across Andhra Pradesh, Telangana, and Karnataka, and build India’s most efficient, value-first retail chain for small-town families,” co-founder Anil Thontepu said.

Founded in 2020 by Thontepu and Anil Neeraj Menta, both from BITS, Pilani, SuperK operates more than 130 franchise-run grocery stores in over 80 small towns, primarily in Andhra. It positions itself as a “Costco for small-town India”, offering low-cost essentials through a tech-enabled supply chain and retail OS built in-house.

The company claims to be the only offline retailer with full visibility into customer behaviour, driven by its proprietary POS system and apps for consumers and partners. Its "Gold" membership programme now contributes 75 percent to total sales, the founders said.

SuperK is also expanding into non-grocery essentials such as fans, mixers and pressure cookers, using the same retail network and infrastructure.

Menta said backing from retail veterans like Bansal and Sacheti signals confidence in the long-term potential of tech-enabled value retail in “deeper Bharat”.

“SuperK is well-positioned to reimagine retail in deeper Bharat by empowering entrepreneurs from these towns to easily own and operate supermarkets. We’re excited to continue supporting their vision of offering a better grocery shopping experience to small-town customers and back SuperK in their next phase of growth,” Bansal said.

The Rs 600-crore Indian grocery market remains largely unorganised, especially in Tier 2 and 3  towns, which account for more than 80 percent of the spending. Less than 5 percent of this market is served by organised retail, a gap SuperK is aiming to address.

The funding comes at a time when investors are showing renewed interest in offline retail models tailored for Bharat, especially those combining local entrepreneurship with scalable technology. As competition intensifies in India's small-town commerce space, SuperK is betting on deep data, loyal customers and operational efficiency to stay ahead.