Bengaluru and Kadapa (AP) based startup, SuperK, motivates local entrepreneurs to build and operate mini supermarkets
Every retailer wishes to step up his game with every new innovation in technology. They want to enjoy the benefits of procurement, technology, intelligence and marketing. Bengaluru and Kadapa (AP) based startup, SuperK is a one-stop station for all such retailers.
SuperK is a tech-enabled store retail network for rural areas and small towns. It helps local entrepreneurs to build and operate mini supermarkets. The customers of Tier III, IV, V towns of India also get a modern retail experience. The startup is a brainchild of two batchmates at BITS Pilani, Neeraj Menta and Anil Thontepu. They founded SuperK in December 2019. They aim to boost small format retail stores all over India.
“I shop at the SuperK Supermarket near my house for all the grocery needs of my family. I love to choose from a wide range of choices and have a great experience every time. I go back home happy with all the savings due to Offers and Loyalty Rewards.” Raju, Chinnachowk, Kadapa, a customer of SuperK said.
Last month, on 15 April, the startup declared that it had raised Rs 6 crore in a venture led by Strive VC. Investors like Firstcheque, Ramakant Sharma & Syndicate, serial entrepreneur Srinivas Anumolu, Anand Chandrasekaran (ex- Snapdeal CPO/ Facebook Director), Lalit Keshre (CEO at Grow), Rajan Bajaj (CEO at Slice), Sampad Swain (CEO at Instamojo) among other veterans from startup ecosystem were participants of the round.
As per the official statement, the capital raised will be used for infrastructure, technology and hiring competent talent.
“Our agenda is to bring modern retail experiences to the smallest of towns in India by empowering entrepreneurs from these towns to easily own and operate supermarkets. Other startups lending a hand to retailers in this industry, only provide tools to these stores. We are driving outcomes for the stores by using the technology ourselves." Neeraj Menta, Co-founder, SuperK shared.
Neeraj Further said, “For the past 1.5 years, our expenses have been incurred invalidating and tweaking our business model. Having a strong operating playbook in place, now our focus is to invest in logistic infrastructure and tech products. It will improve and escalate our new stores.”
SuperK has led to 3 to 4 times increase in sales volume in existing stores. As a result, it boosted the take-home revenue of retailers who took up the company's franchise. It added more than 20 stores in its network. It also helped 40,000+ families by providing a positive contribution margin. By the end of 2021, it aims to reach 70+ stores with an annual GMV of $10 million.
Lead Investor Nikhil Kapur, Partner at Strive, stated “While existing organised retailers are competing with individual retailers, SuperK is helping local entrepreneurs to effectively compete with large chains. The uniqueness of their business model has allowed them to be asset-light and operate with negative working capital. Due to this, SuperK operates much faster than any other retail chain. In the next 10 years, SuperK will become the largest retail chain of India due to its scalable business model along with a tech background of founders."
As a partner of SuperK, a retailer gets the opportunity to access customers in Tier 2 cities for the products effortlessly. They offer large network retailers, product promotion, huge scale, quantified feedback, customer segment targeting and brand publicity. The retailer doesn’t require hassle in running a store as SuperK takes care of it. The retailer can focus on satisfying customers, multiplying sales, large distributor, brand network, billing, inventory system and others.
“Operating a supermarket is very tough for an individual, but SuperK made my life easy and tension free. I can see consistency and growth in my income. Now I can provide excellent service, discounts and quality to my customers, all thanks to SuperK” said Reerariah, Store Owner, Kadapa.