Value retain chain SuperK has raised ₹100 crore in Series B funding round led by Binny Bansal’s 3STATE Ventures and Mithun Sacheti. The round also saw participation from Men’s Test Captain Shubman Gill, and some existing investors like Blume Ventures and Xeed Ventures.
The company will use the fresh capital to expand SuperK’s organisational capacity, hiring top talent across marketing, store operations, category, and growth functions, to accelerate the company’s expansion into newer towns and adjacent categories.
“Over the last year, we quietly rebuilt our engine, from building our own POS and launching a consumer app, to introducing our flagship membership program, which now drives 75% of sales. With this new capital, we’re ready to take that engine to 300 more towns across AP, Telangana, and Karnataka,” said Anil Thontepu, Co-founder of SuperK.
Speaking about the investment, Binny Bansal said that 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,” he added.
India’s grocery retail is a $600 billion market, with small towns (tier 2 and below) accounting for more than 80% of the total spend. Yet, less than 5% of this vast market is currently served by organised retail. This presents a massive opportunity for trusted, tech-enabled formats that can scale efficiently in these underpenetrated regions.
SuperK aims to dominate this white space by creating a value-first supermarket chain, akin to Costco, but for small-town India, powered by local franchisees, proprietary technology, and a deeply loyal customer base. The company currently operates 130 stores across over 80 small towns in Andhra Pradesh, each following a franchisee format.
The retail chain was founded in 2020 by Anil Thontepu and Neeraj Menta, two BITS Pilani batchmates, both second-time entrepreneurs. Anil led product and growth at Kaodim, Hike, and Phonepe. Neeraj co-founded Hungerbox and built products at Flipkart and Zeta (Directi).
