In a significant boost to India’s value retail space, 1-India Family Mart has successfully raised $12 million in a Series D funding round. This new capital comes from a blend of existing backers and fresh investors, including Gulf Islamic Investments, Singapore’s Foundation Private Equity, Carpediem Capital Partners, Capri Global Holdings, a group of high-net-worth individuals, and notably, the company’s own co-founder and promoter, Jay Prakash Shukla.
This fresh injection builds upon their earlier Series B raise of Rs 50 crore (around $6 million) from Gulf Islamic Investments, while Mumbai-based ethnic apparel manufacturer Suumaya Industries also became a minority stakeholder in the parent company, Nysaa Retail Pvt Ltd.
Founded in 2012 by Jay Prakash Shukla and Ravinder Singh, 1-India Family Mart has carved out a unique space by focusing on tier II, III, and IV cities—places often overlooked by large retail chains. Their strategy revolves around mid-sized stores that serve smaller towns and villages, connecting with India’s rapidly growing aspiring consumer base. By offering affordable fashion, lifestyle products, and general merchandise in an organized retail format, they have tapped into a market hungry for quality at competitive prices.
Today, the brand operates 65 stores spread across 10 states, with particular momentum in North and East India. Their operations are streamlined through a centralized warehouse in Gurugram, coupled with a zero-reverse logistics policy—a smart approach that ensures all shipped inventory is sold, minimizing waste and boosting efficiency.
With this fresh capital, 1-India Family Mart is gearing up to accelerate its expansion plans. The company aims to double its footprint to 100 stores and hit a revenue target of Rs 600 crore by 2029. Their vision remains clear: to bring quality, affordability, and a curated shopping experience to India’s underserved markets, empowering local communities and creating new retail opportunities.
This funding round marks another milestone for 1-India Family Mart, underlining the growing investor confidence in the value retail segment and the untapped potential of India’s smaller towns. As the retail landscape evolves, 1-India Family Mart is well poised to be a key player in democratizing access to quality retail across India.
