SuperK, a franchised retail chain operating in small towns in India, has raised $6 million (around Rs 50 crore) in a Series A round, led by Blume Ventures along with participation from Silver Needle Ventures, Veltis Capital, Atrium Angels, and some angel investors and syndicates.
SuperK plans to use the funding will be used for investing in technology infrastructure, hiring and scaling the platform, the company said in a statement.
The company operates a franchised retail chain for small towns in India. It claims that it currently operates in over 80 Tier III, IV and V towns of Andhra Pradesh. It is creating a modern grocery experience for small-town customers. Its stores are typically between 500-1000 sq ft. sized walk-in stores stocking around 2,500 SKUs (stock keeping units).
Ginglani Distillers, manufacturer of homegrown Woodsmen Mountain Whiskey, has raised Rs 12.5 crore in a Series A funding round, led by Ahmedabad-based Finfirst Group and Anthill Ventures.
The funding round also saw participation from Sixth Sense Ventures’ managing partner Nikhil Vora, former COO of Sula Vineyards, Chaitanya Rathi and Bombay Shaving Co. founder Shantanu Deshpande. Existing investors, including founders of Country Delight Nitin Kaushal and Chakradhar Gade also made the investments.
Ginglani Distillers plans to use the funds to accelerate its growth trajectory. The company is looking to double its revenue and surpass the Rs 100 crore gross annual recurring revenue (ARR) mark. It is also looking to expand into new markets.
Singapore and Mumbai-based agritech firm Elevate Foods has raised $525,000 in its seed funding round led by Singapore-based climate-focussed investors Wavemaker Impact (WMi).
Elevate Foods facilitates Indian small-scale farm-gate processors' access to global markets, overcoming resource constraints and international quality standards. It aims to bridge the gap between local processors and international buyers.
It doesn’t own factory assets of its own but upgrades existing micro and small farm-gate food processors to enable them to provide more sustainable and traceable products to end buyers globally.
