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Value retail chain 1-India Family Mart raises $12 Mn in Series D round

EntrackrEntrackr · 7m ago
Value retail chain 1-India Family Mart raises $12 Mn in Series D round
Medial

Value retail chain 1-India Family Mart has raised $12 million in a Series D funding round, from a mix of existing and new investors. 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. Earlier, it had raised Rs 50 crore ($6 million) in Series B funding from Dubai-based Gulf Islamic Investments (GII). Mumbai-based ethnic apparel manufacturer Suumaya Industries had also picked up a minority stake in its parent company Nysaa Retail Pvt Ltd. The fresh proceeds will be utilized to support its next phase of growth, including the expansion of its retail footprint across India’s fast-evolving value retail segment, 1-India Family Mart said in a press release. Co-founded in 2012 by Jay Prakash Shukla and Ravinder Singh, 1-India Family Mart caters to underserved markets through mid-sized stores in tier III and IV towns and villages across India. The brand focuses on tier II, III, and IV cities and has allowed it to connect with India’s aspiring consumer base by offering affordable fashion, lifestyle products, and general merchandise through an organized retail format. 1-India Family Mart currently operates 65 stores across 10 states and continues to expand its presence, especially in North and East India. Its operations are supported by a centralized warehouse in Gurugram and a zero-reverse logistics policy that ensures all shipped inventory is sold—minimizing waste and maximizing operational efficiency. 1-India Family Mart says that it is committed to quality, competitive pricing, and a curated in-store experience and aspires to achieve Rs 600 crore in revenue and expand to 100 stores by 2029.

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Apna Mart raises $25 Mn led by Fundamentum and Accel

EntrackrEntrackr · 9m ago
Apna Mart raises $25 Mn led by Fundamentum and Accel
Medial

Exclusive: Apna Mart raises $25 Mn led by Fundamentum and Accel Founded by Abhishek Singh and Chetan Garg, Apna Mart guarantees grocery and FMCG deliveries within 15 minutes, in addition to its brick-and-mortar stores. Apna Mart, a franchise-driven omnichannel grocery and FMCG chain, has raised Rs 214.5 crore (approximately $25 million) in equity and debt led by Fundamentum Partnership Fund and Accel with the participation of existing investors. The board at Apna Mart has passed a special resolution to issue 6,342 Series B compulsory convertible preference shares at an issue price of Rs 2,78,402 to raise Rs 176.5 crore or $20.5 million and 3,800 debentures for Rs 38 crore or $4.5 crore, its regulatory filings sourced from the Registrar of Companies (RoC) show. Fundamentum Partnership Fund is leading the round with Rs 84 crore while Accel India, Peak XV, and Sparrow Capital will invest Rs 60.88 crore, Rs 17.4 crore, and Rs 4 crore, respectively. 2 AM Ventures, Disruptors Capital, and Alteria will invest the rest of the amount. Entrackr estimates Apna Mart's post-allotment valuation at approximately Rs 738 crore ($87 million), an 81% jump from its previous funding round. Founded by Abhishek Singh and Chetan Garg, Apna Mart guarantees grocery and FMCG deliveries within 15 minutes, in addition to its brick-and-mortar stores. Operating across 14 cities—including Ranchi, Hazaribagh, and Bilaspur—the firm utilizes a franchise model to ensure operational efficiency. According to startup data intelligence platform TheKredible, Apna Mart has raised approximately $40 million across multiple funding rounds. Following the latest investment, Accel India remains the largest external stakeholder with a 20.91% stake, followed by Peak XV at 13.06% and Fundamentum at 11.39%. The Bengaluru-based firm recorded an 85.6% year-on-year growth to Rs 59.6 crore of revenue during the previous fiscal year ended March 2024. In pursuit of growth, the losses for the firm also grew 51.4% to Rs 33 crore in the same period. Apna Mart has been working to crack the grocery model through a franchise-led approach with a strong online touch. The company is scaling steadily with solid backing from investors, including Nandan Nilekani’s Fundamentum and Accel, which has doubled down on its investment. Apna Mart certainly seems to be a company to watch in the grocery category for the long haul—a space currently dominated by quick commerce players like Blinkit, Swiggy Instamart, and Zepto.

Electric motorcycle maker Oben Electric raises $10.2 Mn in pre-Series B round

EntrackrEntrackr · 10d ago
Electric motorcycle maker Oben Electric raises $10.2 Mn in pre-Series B round
Medial

Electric motorcycle maker Oben Electric raises $10.2 Mn in pre-Series B round Bengaluru-based electric motorcycle maker Oben Electric has raised Rs 85 crore (around $10.2 million) in a pre-Series B round from Indian-American family offices including Raj K Soin, Musa Dakri, and Ramesh Bhutada, along with existing investors. Following its initial $6 million Series A in January, Oben Electric had raised an additional Rs 50 crore ($6 million) in an extended Series A round, taking its total Series A funding to Rs 100 crore ($12 million) in June this year. With the current round, Oben Electric’s total funding stands at Rs 285 crore ($34 million). The company said it is also in discussions to raise a Series B round. The proceeds will be used to expand Oben Electric’s retail network, increase brand reach, and support upcoming product launches. The startup plans to scale its footprint to 150 showrooms and service centres by March 2026, and to 500 outlets over the next two years. It currently operates over 85 showrooms across 70 cities in 18 states. Oben Electric is targeting Rs 100 crore in revenue in FY26 and expects to achieve cost-of-goods-sold (COGS) break-even by March 2026. The brand is aiming for EBITDA break-even by 2027 as volumes scale. Founded in 2020, Oben Electric focuses on vertically integrated manufacturing. The company designs and manufactures key EV components in-house, including LFP battery packs, motors, chargers, and vehicle electronics, from its Bengaluru facility, which has an annual capacity of 1 lakh units. Earlier this year, Oben launched the Rorr EZ Sigma, a city-focused electric motorcycle with features such as reverse mode and a connected TFT display. The company has also expanded online sales through platforms like Amazon and Flipkart. The company competes with startups like Tork Motors and established players entering the electric motorcycle space, but differentiates through full vertical integration, over 25 patents, and R&D-led design.

Ice cream brand Go Zero raises $1.5 Mn

EntrackrEntrackr · 1y ago
Ice cream brand Go Zero raises $1.5 Mn
Medial

Ice cream brand Go Zero has raised $1.5 million in its follow-on pre-Series A funding round from DSG Consumer Partners, Saama, and V3 Ventures, among others. The round also saw participation from notable angel investors such as Arjun Purkayastha. Earlier in August last year, the startup had raised $1 million in its pre-Series A funding round led by DSG Consumer Partners, Saama, and V3 Ventures. Founded by Kiran Shah, Go Zero has a diversified product portfolio featuring low-calorie, high-protein, and vegan ice creams. The startup claims that all its products are sweetened with plant-based sweeteners, which are low in calories. Currently present in 16 cities and over 125 dark stores, Go Zero ice cream brand is available on both quick commerce and e-commerce platforms in less than two years of launch. In FY24, Go Zero claims to have grown 4X compared to FY23 and while it saw 7X growth on quick commerce in just 5 months this summer. Go Zero competes with Hocco and NIC. Last year, NIC had raised $11 million in a growth funding round led by Jungle Ventures whereas Hocco recently raised $12 million from Chona family and others.

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