SuperK Raises INR 100 Cr Led by Binny Bansal's 3STATE Ventures and Mithun Sacheti The funds will be deployed to strengthen SuperK's talent base, enhance operational capacity, and expand into new towns and adjacent product categories.
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SuperK has raised INR 100 crore (approx. USD 11.7 million) in a Series B funding round led by Binny Bansal's 3STATE Ventures and Mithun Sacheti. Additional participation came from existing investors Blume Ventures and Xeed Ventures, along with Indian cricketer Shubman Gill.
The funds will be deployed to strengthen SuperK's talent base, enhance operational capacity, and expand into new towns and adjacent product categories.
The capital injection will support hiring across marketing, store operations, category development, and growth functions. SuperK aims to reach over 300 additional towns across Andhra Pradesh, Telangana, and Karnataka. This expansion follows its earlier Series A round in March 2024, when it raised USD 6 million led by Blume Ventures.
Anil Thontepu, Co-founder of SuperK, stated, "Over the last year, we rebuilt our operations from the ground up. We developed our own point-of-sale systems, launched a consumer app, and introduced a membership program that now drives most of our sales. With this funding, we are prepared to take our retail model deeper into India's heartland."
Founded in 2020 by Anil Thontepu and Neeraj Menta, SuperK is a value-focused retail chain tailored for tier II and smaller towns. Both founders are alumni of BITS Pilani and experienced entrepreneurs. Anil previously led product and growth initiatives at PhonePe, Hike, and Kaodim. Neeraj co-founded Hungerbox and held product roles at Flipkart and Zeta.
SuperK operates through a franchisee model with 130 stores across more than 80 small towns in Andhra Pradesh. Its technology stack includes proprietary POS machines, a consumer-facing app, and a partner management tool. This enables complete visibility into customer behavior and supports personalised promotions and dynamic incentives for franchisees.
SuperK's Gold membership program has contributed significantly to profitability by driving repeat purchases and loyalty. The company has recently broadened its portfolio beyond groceries to include affordable appliances such as fans, cookers, and mixers, all integrated within its current tech and supply infrastructure.
Neeraj Menta commented, "Having support from Binny and Mithun, two leaders who changed how India shops, shows the strength of SuperK's approach. We are ready to grow with discipline and long-term focus."
Binny Bansal added, "SuperK is empowering entrepreneurs in small towns to operate modern supermarkets. We believe in their vision to improve retail access across Bharat."
