20-05-2025
India Family Mart raises $12 million in series D funding round
Value retail chain India Family Mart has raised $12 million (Rs 100 crore) in its series D funding round from Gulf Islamic Investments, Foundation Private Equity, Carpediem Capital Partners, Capri Global Holdings, HNIs, and promoter JP Shukla.
The company will utilse the funds to fuel its retail expansion plans in the value retail segment across the country.
It plans to set up 100 stores over the next five years and targeting to cross Rs 600 crore in revenue by 2029.
Commenting on the investment, Hithendra Ramachandran, managing director at Carpediem Capital in a statement said, 'The company's focused approach to serving the underserved markets of Tier II, III, and IV cities, combined with its robust operational model and exciting growth trajectory, lays the foundation for building a strong leadership position in India's value retail sector.'
JP Shukla, co-founder CEO added, 'The continued support from both new and existing investors is a clear endorsement of our vision and execution. With this fresh capital, we are poised to accelerate our growth, deliver greater value to our customers, and reinforce our leadership in India's value retail market.'
Nysaa Retail, the holding company of India Family Mart was established in 2012. It currently operates over 65 stores across 10 states, primarily in tier 2, 3, and 4 cities.
