SuperK Raises ₹100 Crore in Series B Led by Binny Bansal’s 3STATE Ventures; Shubman Gill Joins Investor Lineup

Value-first retail chain for small towns of India, SuperK has raised INR 100 crore in Series B round of funding led by Binny Bansal’s 3STATE Ventures and Mithun Sancheti. The round also saw star Indian batter and current Men's Test Captain Shubman Gill joining in, along with existing investors Blume Ventures and Xeed Ventures.

The funding will be used to significantly expand SuperK’s organizational capacity, hiring top talent across marketing, store operations, category, and growth functions, to accelerate the company’s ambitious expansion into newer towns and adjacent categories.

Grocery retail is a $600 billion market in India, with small towns (Tier-II and below) accounting for more than 80% of the 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 80+ small towns in Andhra Pradesh, each following a franchisee format.

SuperK has developed indigenous POS machines with an in-house retail OS, a consumer-facing app, and a partner app to streamline daily operations at the store level. Technology is a key differentiator - SuperK is the only offline retailer in the country with full visibility into customer behavior, enabled by granular data collection at every purchase. This data allows the company to deliver personalized offers to each customer and incentivize franchisees for driving specific selling outcomes. SuperK’s Gold membership program has significantly improved profitability and strengthened customer loyalty, now contributing a meaningful share of overall sales.

What gives SuperK a unique right to win in this space is its ability to sell the same customers across many product categories through the same stores and supply chain, increasing wallet share while optimizing existing infrastructure. The company has recently expanded beyond groceries into e-commerce, offering value-conscious families access to everyday essentials such as mixers, cookers, fans, and coolers, all built on top of its existing tech and supply chain infrastructure.

Anil Thontepu, Co-founder of SuperK, said, “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.”

Neeraj Menta, Co-founder of SuperK, said “Binny and Mithun have built companies that changed the way India shops. Their decision to back SuperK is a clear signal that value-first, tech-enabled retail has the potential to go much deeper into Bharat. We’re excited to scale this with discipline and ambition.”

Binny Bansal, 3STATE, added, “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.”

SuperK 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).