1-India Family Mart is aiming to reach ₹600 crore in revenue and scale up to 100 stores by 2029…
Value retail chain 1-India Family Mart has raised $12 million in a Series D funding round backed by a mix of existing and new investors. The round saw participation from Gulf Islamic Investments (GII), Foundation Private Equity (Singapore), Carpediem Capital Partners, Capri Global Holdings, a consortium of high-net-worth individuals, and co-founder and promoter Jay Prakash Shukla.
Previously, the company had raised ₹50 crore ($6 million) in a Series B round led by Dubai-based GII. Additionally, Mumbai-based ethnicwear manufacturer Suumaya Industries had acquired a minority stake in its parent company, Nysaa Retail Pvt. Ltd.
The newly raised capital will be directed towards scaling up operations, with a focus on expanding the brand’s footprint across India’s rapidly growing value retail sector.
Founded in 2012 by Jay Prakash Shukla and Ravinder Singh, 1-India Family Mart is known for targeting underserved regions through mid-sized format stores in tier III and IV towns and rural areas. The brand’s strategic focus on India’s aspirational consumers in smaller cities has enabled it to offer affordable fashion, lifestyle, and general merchandise through a modern retail format.
Currently operating 65 stores across 10 states, the company is actively expanding, particularly in North and East India. Its operations are supported by a centralised warehouse in Gurugram and a zero-reverse logistics approach, ensuring sold inventory only—minimising wastage and improving efficiency.
With a firm commitment to quality, competitive pricing, and a curated in-store experience, 1-India Family Mart is aiming to reach ₹600 crore in revenue and scale up to 100 stores by 2029.
