1-India Family Mart Raises $12M to Fuel Small-Town Retail Expansion
• 1-India Family Mart raises $12M in Series D funding led by Gulf Islamic Investments and others.
• Funds to expand from 65 to 100 stores across tier II-IV cities by 2029.
• Focus on affordable fashion and lifestyle products in underserved North and East India.
Value retail chain 1-India Family Mart has raised $12 million (about Rs 100 crore) in a Series D funding round, led by a mix of existing and new investors. The round was joined by Gulf Islamic Investments, Foundation Private Equity, Carpediem Capital Partners, Capri Global Holdings, some high-net-worth individuals, and co-founder JP Shukla of the company.
The new funds will help the brand expand into tier II, III, and IV cities in India. The company aims to expand from its present 65 stores in 10 states to 100 by 2029 and target revenue of Rs 600 crore, with a specific focus on under-penetrated markets in Uttar Pradesh, Bihar, and Jharkhand.
CEO and Co-founder JP Shukla said, "The ongoing vote of confidence by new and existing investors is a strong indication of our vision and execution. With this new capital, we are well-placed to drive growth more aggressively, create increased value for customers, and solidify our leadership in India's value retail market."
Established in 2012 by JP Shukla and Ravinder Singh, 1-India Family Mart, owned by Nysaa Retail Pvt Ltd, offers accessible fashion, lifestyle, and general merchandise to aspirational consumers in rural and semi-urban markets. The brand has mid-sized outlets with the intent of merging the convenience of local shops with the efficiency of organised retail.
Earlier, Series B round a worth $6 million had been led by Gulf Islamic Investments, and Suumaya Industries had taken a minority stake in the parent company. With a physical retail base of close to 5 million sq ft, the company has a centralised warehouse in Gurugram and adopts a zero-reverse logistics policy, which means all the inventory being dispatched is sold reducing waste and maximising operational efficiency.
• Funds to expand from 65 to 100 stores across tier II-IV cities by 2029.
• Focus on affordable fashion and lifestyle products in underserved North and East India.
Value retail chain 1-India Family Mart has raised $12 million (about Rs 100 crore) in a Series D funding round, led by a mix of existing and new investors. The round was joined by Gulf Islamic Investments, Foundation Private Equity, Carpediem Capital Partners, Capri Global Holdings, some high-net-worth individuals, and co-founder JP Shukla of the company.
The new funds will help the brand expand into tier II, III, and IV cities in India. The company aims to expand from its present 65 stores in 10 states to 100 by 2029 and target revenue of Rs 600 crore, with a specific focus on under-penetrated markets in Uttar Pradesh, Bihar, and Jharkhand.
CEO and Co-founder JP Shukla said, "The ongoing vote of confidence by new and existing investors is a strong indication of our vision and execution. With this new capital, we are well-placed to drive growth more aggressively, create increased value for customers, and solidify our leadership in India's value retail market."
Established in 2012 by JP Shukla and Ravinder Singh, 1-India Family Mart, owned by Nysaa Retail Pvt Ltd, offers accessible fashion, lifestyle, and general merchandise to aspirational consumers in rural and semi-urban markets. The brand has mid-sized outlets with the intent of merging the convenience of local shops with the efficiency of organised retail.
Earlier, Series B round a worth $6 million had been led by Gulf Islamic Investments, and Suumaya Industries had taken a minority stake in the parent company. With a physical retail base of close to 5 million sq ft, the company has a centralised warehouse in Gurugram and adopts a zero-reverse logistics policy, which means all the inventory being dispatched is sold reducing waste and maximising operational efficiency.
.jpg "Mentza : Redefining Career Readiness through AI-Driven Skill Assessments & Mentoring")
