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SuperK Secures Rs 31 Crore in Series A Funding Led by Blume Ventures

SuperK, a Hyderabad-based tech-enabled grocery retail chain, has secured Rs 31 crore (approximately $3.7 million) in its Series A funding round. This marks the company's first fundraising effort in 2024.

The round was led by Catalyst Trusteeship Limited (Blume Venture), which contributed Rs 21.65 crore. Other investors included VSS Investment Fund, Veltis Capital, Stargazer Fund, CoralBay Ventures, Silver Needle Ventures, HOF Profectus, IA Growth Opportunities, and Abhishek Goyal.


SuperK plans to utilize the fresh capital to fuel its growth and expansion plans, while also strengthening its financial position. Following this round, Blume Ventures holds a 10.1% stake in the company, while Silver Needle Ventures and Veltis Capital hold 1.26% and 1.06% stakes, respectively.


According to TheKredible, a startup data intelligence platform, SuperK's post-money valuation is around Rs 198 crore ($24 million). This represents a 25% decrease compared to the company's valuation during its previous fundraising round.


Including this latest investment, SuperK has raised approximately $15 million to date. The company's previous funding round, led by Binny Bansal-backed 021 Capital in March 2022, secured $5.5 million.

Founded in 2019, SuperK operates a grocery retail chain with an asset-light franchise model. The company boasts over 100 stores across Kadapa and Anantapur in Andhra Pradesh, India.


SuperK's financial performance has shown promise. The company's revenue tripled to Rs 59 crore in FY23 from Rs 19.2 crore in FY22. However, the company also reported losses of Rs 23.5 crore during the same period.


 

 

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