1-India Family Mart, a value retail chain, has raised $12 million in its Series D funding round, securing capital 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 himself.
The funds raised will be used to support the next phase of growth, including the expansion of its retail footprint.
Founded in 2012 by Jay Prakash Shukla and Ravinder Singh, 1-India Family Mart is a chain of value retail stores in India operated by Nysaa Retail.
The brand’s focus on tier 2, 3, and 4 cities 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 has a strong presence of 65 stores across 10 states, particularly in Uttar Pradesh, Bihar, and Jharkhand.
Backed by a commitment to quality, competitive pricing, and a curated in-store experience, the company has ambitions to achieve ₹600 crore in revenue and expand to 100 stores by 2029.
Hithendra Ramachandran, Managing Director at Carpediem Capital, said, “We are excited to continue our partnership with 1-India Family Mart in this Series D funding round. The company’s focused approach to serving the underserved markets of tier 2, 3, and 4 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. This investment is a testament to our confidence in the team’s ability to scale the brand’s footprint and deliver sustainable value to both customers and stakeholders.”
JP Shukla, Co-founder and CEO, 1-India Family Mart, said, “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. My personal investment in this round, alongside our esteemed partners, reflects my strong belief in the strength and future potential of the brand and the sector.”
Jeremy Foo, Partner and Co-Founder at Foundation Private Equity, said, “We have been indirect investors in 1-India Family Mart for the past few years and are happy to continue supporting the company’s growth in this Series D funding round. We have strong conviction that 1-India Family Mart will be able to capitalize on the strong tailwinds that we see in the segment of the market that the company serves.”
