SuperK will use the fund to hire even better talent, expand infrastructure, and improve technology.
Backed with investment from Strive Venture Capital (VC), SuperK raised INR 6Crore in seed funding. This round also saw participation from Sampad Swain, CEO at Instamojo, Firstcheque, Rajan Bajaj CEO, Slice, Ramakant Sharma & Syndicate, serial entrepreneur Srinivas Anumolu, Anand Chandrasekaran former ex-Snapdeal Chief Product Officer/Facebook Director, Lalit Keshre, CEO at Groww, among others. SuperK will use the fund to hire even better talent, expand infrastructure, and improve technology.
SuperK was founded in December 2019 by Neeraj Menta and Anil Thontepu, batchmates at BITS Pilani. The company aims to empower small town and small format retailers across India. Menta had earlier also co-founded Hungerbox and built products at Zeta and Flipkart, while Thontepu previously led product management at Kaodim, which is a services marketplace in Malaysia, prior to which he managed growth at Phonepe and Hike. Grocery retail is a $600 billion market in the country and Tier-II and below account for more than 80% of the grocery market business, but a small share of only 2% is presently handled by organized retail chains.
Source: Business World
