SuperK Raises ₹100 Crore Series B Led by Binny Bansal, Expands Small Town Retail

SuperK, a value-focused retail chain targeting small towns in India, has raised INR 100 crore (approximately USD 11.7 million) in a Series B funding round led by Binny Bansal's 3STATE Ventures and Mithun Sacheti, with participation from cricketer Shubman Gill and existing investors. The funds will be used to expand SuperK’s organizational capacity, hiring talent across marketing, store operations, category development, and growth functions, as well as to support expansion into over 300 additional towns across Andhra Pradesh, Telangana, and Karnataka. Founded in 2020 by Anil Thontepu and Neeraj Menta, SuperK operates over 130 franchisee-run stores and has developed proprietary technology including POS machines, a retail operating system, and consumer and partner apps, which provide complete visibility into customer behavior for personalized promotions and incentives. The company aims to capture a significant share of the largely unorganized grocery retail market in tier-II and smaller towns, which account for more than 80% of India’s grocery spend but have less than 5% organized retail presence. SuperK's Gold membership program now drives a majority of sales, enhancing profitability and customer loyalty. The company positions itself as a value-first supermarket chain to serve India's deeper markets with a tech-enabled, franchisee-powered model.