Homegrown value retail chain 1-India Family Mart has secured $12 million (approx. ₹100 crore) in fresh Series D funding, bringing in a mix of returning supporters and fresh backers. The round was led by Gulf Islamic Investments, Foundation Private Equity, Carpediem Capital Partners, Capri Global Holdings, a network of high-net-worth individuals, and co-founder JP Shukla himself.
This round of funding comes as the company gears up for a new chapter of expansion, eyeing growth in India’s smaller cities and towns. Currently operating 65 stores across 10 states, the company is targeting 100 stores by 2029—with plans to penetrate deeper into Tier II, III, and IV markets. The goal: hit ₹600 crore in revenue, by building on its stronghold in North and East India, especially in underserved regions like Uttar Pradesh, Bihar, and Jharkhand.
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JP Shukla, who also serves as CEO, called the latest raise a signal of investor trust and long-term commitment. “We’re not just adding more stores—we’re investing in aspirations,” he said. “Our aim has always been to bridge the retail gap in small-town India with smart pricing, decent quality, and local relevance. This capital helps us take that mission further, faster.”
Started in 2012 by Shukla and co-founder Ravinder Singh, 1-India Family Mart—under parent company Nysaa Retail Pvt Ltd—caters to the everyday Indian who wants more for less. The stores blend local accessibility with organized retail practices, offering affordable fashion, lifestyle products, and household essentials through mid-sized outlets set up in rural and semi-urban markets.
This isn’t the first time investors have bet on the brand. Gulf Islamic Investments previously led a $6 million Series B round, and Suumaya Industries has also picked up a stake in the company’s parent entity. With close to five million square feet of retail space and a logistics setup anchored by a central warehouse in Gurugram, the brand has managed to keep things lean and agile. Its no-return policy on inventory—everything shipped gets sold—has allowed it to stay efficient and limit wastage.
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With a market segment that’s growing but still largely underserved, 1-India Family Mart is positioning itself as the go-to choice for value-conscious shoppers in Bharat’s heartland.
