SuperK, a tech-enabled value-first retail chain targeting small-town India, has raised Rs. 100 crore in a Series B round led by Binny Bansal’s 3STATE Ventures and Mithun Sancheti. The round also saw participation from Indian Test captain Shubman Gill, alongside existing investors Blume Ventures and Xeed Ventures.
The capital will be used to significantly strengthen SuperK’s organisational muscle across marketing, store operations, category management, and growth. With an ambition to expand into newer towns and adjacent categories, SuperK is positioning itself as the “Costco for small-town India” — combining local franchisee-led stores with proprietary technology and data-driven operations.
India’s Rs. 50 lakh crore grocery market remains largely unorganised in Tier-II and smaller towns, which contribute over 80% of the total spending. SuperK aims to dominate this whitespace through its 130 franchisee-run stores across 80+ towns in Andhra Pradesh, powered by its in-house POS machines, a consumer app, a partner app, and a proprietary retail operating system.
A key driver of its success has been the Gold membership program, now responsible for 75% of sales. This, combined with granular customer data and supply chain control, has enabled SuperK to cross-sell into other everyday categories, including home appliances and essentials, optimising its infrastructure and increasing share of wallet.
Co-founders Anil Thontepu and Neeraj Menta, both BITS Pilani alumni and second-time founders, have drawn on deep experience from stints at Hike, PhonePe, Flipkart, and Zeta.
“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. With this new capital, we’re ready to take that engine to 300 more towns,” said Anil Thontepu.
Neeraj Menta added, “The backing from Binny and Mithun is validation that value-first retail, built on technology and local partnerships, is ready to scale deep into Bharat.”
Binny Bansal stated, “SuperK is empowering entrepreneurs in small towns to run organised retail efficiently. We’re excited to support their vision in reshaping Bharat’s retail experience.”
