SuperK Bags INR 100 Cr From Binny Bansal’s 3STATE Ventures

SUMMARY

The round also saw participation from cricketer Shubman Gill, with existing investors Blume Ventures and Xeed Ventures

The startup plans to deploy the fresh proceeds for expansion and hiring talents across marketing and store operations

SuperK last raised $6 Mn in a Series A round in 2024 from Blume Ventures, Silver Needle Ventures, Veltis Capital, Atrium Angels, and others

SuperK, a tech-enabled franchised grocery retailer for small towns, has secured INR 100 Cr (around $11.5 Mn) in a Series B funding round co-led by Binny Bansal’s 3STATE Ventures and Caratlane founder Mithun Sacheti.

The round also saw participation from cricketer Shubman Gill, with existing investors Blume Ventures and Xeed Ventures.

The startup plans to deploy the fresh proceeds for expansion and hiring talents across marketing and store operations.

Founded in 2020 by Anil Thontepu and Neeraj Menta, SuperK runs a franchise-based retail chain catering to tier III-V towns, with operations across 80 towns in five Andhra Pradesh districts.

The startup manages end-to-end supply chain and customer experience via proprietary tech and logistics infrastructure, including in-house POS systems, a retail OS, consumer app, and partner app for store-level efficiency.

SuperK’s cofounders are second-time entrepreneurs. While Thontepu previously drove product growth at Kaodim, Hike and PhonePe, Menta cofounded Hungerbox and built products at Flipkart and Zeta (Directi).

“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, bring exceptional talent on board, and build India’s most efficient, value-first retail chain for small-town families.” Thontepu said.

SuperK last raised $6 Mn in a Series A funding round in 2024 from Blume Ventures, Silver Needle Ventures, Veltis Capital, Atrium Angels, and other angels and syndicates.

The startup claims to cater to India’s vast unorganised grocery retail market. According to a report, the India grocery market size is forecast to increase by $352.8 Bn, at a CAGR of 8.5% between 2024 and 2029.

SuperK’s offerings are primarily targeted at small towns, including Tier-II and below, which (as per reports) account for more than 80% of grocery spending in India.

The low penetration of organised retail in these markets further creates opportunities for tech-enabled retail formats like SuperK.

To tap into this demand, SuperK competes with players such as Frendy, Kirana King and Apna Mart, which combine offline convenience stores with delivery services to bridge the market gap.