1-India Family Mart secures $12 mn in series D-funding for expansion
Summary
The round saw participation from Gulf Islamic Investments, Singapore-based Foundation Private Equity, Carpediem Capital Partners, Capri Global Holdings, a consortium of high-net-worth individuals, and promoter JP Shukla himself.The fresh infusion of capital will support the companys next phase of growth, including the expansion of its retail footprint across Indias fast-evolving value retail segment. The brands focus on tier 2, 3, and 4 cities has allowed it to connect with Indias aspiring consumer base by offering affordable fashion, lifestyle products, and general merchandise through an organized retail format. Backed by a commitment to quality, competitive pricing, and a curated in-store experience, the company has ambitions to achieve ?600 crore in revenue and expand to 100 stores by 2029.Commenting on the fundraise, Hithendra Ramachandran, Managing Director at Carpediem Capital, said: "We are excited to continue our partnership with 1-India Family Mart in this Series D funding round. The companys focused approach to serving the underserved markets of tier 2, 3, and 4 cities, combined with its robust operational model and exciting growth trajectory, lays the foundation for building a strong leadership position in Indias value retail sector. "JP Shukla, Co-founder and CEO, 1-India Family Mart, added: The continued support from both new and existing investors is a clear endorsement of our vision and execution.