Neighbourhood grocery supermarket chain Sumosave Retail Ventures has raised ₹50 crore in a pre-Series B funding round led by consumer-focused investment firm 12 Flags Group, with Stride Ventures participating through venture debt. The fresh capital will support the company’s ambitious expansion plans and strengthen its supply chain.
Founded in 2022, Sumosave previously secured $3.3 million in funding from Lightspeed and a group of angel investors. The company operates company-owned neighbourhood supermarkets across eastern and northern India, primarily serving middle- and lower-middle-income households with an emphasis on affordability and quality.
The newly raised funds will be deployed to accelerate the retailer’s physical expansion and enhance its supply chain capabilities. Sumosave aims to build a network of 500 stores by 2030, reinforcing its presence in India’s rapidly growing organised grocery retail market.
The funding also underscores sustained investor confidence in organised grocery retail, as regional supermarket chains increasingly combine equity financing with venture debt to support scalable, capital-efficient growth.
“India’s food and grocery market is seeing a massive modern-retail inflection, with middle-income families demanding high-quality brands alongside tight budget control,” said Mohit Kampani, Founder and Chief Executive Officer of Sumosave. “Partnering with 12 Flags and a brand builder like Rakesh Kapoor gives us deep strategic mentorship, while Stride Ventures’ specialised credit fuels our expansion.”
Rakesh Kapoor, Founder of 12 Flags Group and former Global CEO of Reckitt Benckiser, said the company invested in Sumosave because of its strong focus on affordability, operational discipline, and capital-efficient growth.
“At 12 Flags, we back businesses that make a difference to people while building enduring competitive advantage. We are excited to partner with Mohit and his team as they scale what we believe can become one of middle India’s leading value retail businesses,” Kapoor said.
With fresh growth capital and strategic backing from seasoned consumer industry investors, Sumosave is positioning itself to capitalise on India’s expanding organised grocery retail market. As value-conscious consumers increasingly shift toward modern retail formats, the company aims to scale its footprint while maintaining its focus on affordability and operational efficiency.
