Flipkart plans ₹750-Crore Shadowfax stake sale in major liquidity move

July 13, 2026

Walmart-backed e-commerce company Flipkart has initiated plans to sell part of its stake in logistics startup Shadowfax Technologies in a transaction valued at approximately ₹700–750 crore, according to people familiar with the development.

The proposed transaction marks Flipkart’s second stake dilution in Shadowfax and represents the latest in a series of portfolio monetisation initiatives. Through exits from BlackBuck, Aditya Birla Group companies and other investments, the company has already generated more than ₹2,500 crore (around $265 million). At the same time, Flipkart has significantly reduced its monthly cash burn from nearly $40 million a few months ago and has increasingly relied on portfolio exits to unlock liquidity while avoiding external fundraising and postponing its initial public offering (IPO) plans.

“Flipkart may sell shares as early as the end of this month around when the six-month lock-in expiry ends as part of a larger block deal,” one of the persons cited above said.

According to another source, the transaction could take place at a 2–4 percent discount to the current market price.

Sources said that Flipkart will likely sell shares worth ₹700–750 crore as part of a larger block deal involving several early investors in Shadowfax. The transaction is expected to take place over the coming weeks, with investors such as Mirae, Eight Roads, Qualcomm and TPG NewQuest also likely to participate.

However, Flipkart will not completely exit its investment in Shadowfax. The company currently owns 42.6 million shares, representing an 8 percent stake in the logistics startup. It plans to sell approximately 33.7 million shares, equivalent to around 6 percent, while retaining nearly 2 percent ownership after the transaction, according to sources.

The 33.7 million shares represent the only portion of Flipkart’s holding that becomes eligible for sale after the six-month lock-in period expires at the end of July. Meanwhile, the company must continue holding the remaining 8.9 million shares because they form part of the minimum promoter contribution.

Under the Securities and Exchange Board of India (SEBI) regulations, the minimum promoter contribution requires a specified portion of shares to remain locked in after an IPO. The requirement ensures long-term commitment from key shareholders and reassures public investors that major stakeholders cannot immediately exit after the company’s stock market debut.

These shares remain subject to a mandatory 18-month lock-in period, during which shareholders cannot sell them. Furthermore, when promoters do not hold sufficient shares to meet the regulatory requirement, eligible existing shareholders can contribute part of their holdings without assuming promoter status. Regulatory filings show that Flipkart, along with Mirae, Eight Roads and TPG NewQuest, served as one of these contributing shareholders in Shadowfax.

Flipkart’s planned Shadowfax stake sale highlights its continued focus on unlocking value from strategic investments while improving liquidity ahead of its eventual IPO. Even after the proposed transaction, the company will retain a minority stake in Shadowfax, allowing it to maintain exposure to the fast-growing logistics startup while strengthening its financial position.

BITS Pilani-backed Sortmyprep raises $350,000 to scale AI learning platform

BRL Editor

July 13, 2026

BITS Pilani-backed AI edtech startup Sortmyprep has raised approximately $350,000 in a pre-seed funding round as the company strengthens its artificial intelligence platform and expands its curriculum offerings across India and international markets.

Several prominent investors participated in the funding round, including Boman Irani, chairman of Rustomjee Group and Rustomjee International School; Sameer Mehta, cofounder of boAt; Subrat Pani, cofounder of OneAssist; Rohini Kasturi, CEO of HG Insights; and Ranjit Pawar, APAC Head at London Stock Exchange Group. Earlier, the startup also secured institutional backing from PIEDS, the startup incubator at BITS Pilani.

Founded by Ananya, Aryaman and Naman under ZKAP Edtech Service Pvt Ltd, Sortmyprep develops a vertical AI platform that focuses on school examination preparation. Its flagship product, Sorty, functions as a curriculum-aligned conversational AI tutor that delivers personalised learning, adaptive study plans and round-the-clock doubt resolution for students.

The company will utilise the newly raised capital to strengthen its vertical AI infrastructure, expand curriculum coverage and accelerate growth across domestic as well as international markets.

Currently, Sortmyprep serves students in more than 15 countries and has developed a proprietary academic dataset containing over one million human-generated learning data points. Moreover, the startup revealed that 71 percent of its users joined the platform through referrals and word-of-mouth recommendations without relying on paid marketing campaigns.

“What stood out was the team’s execution. Building strong organic adoption without relying on paid acquisition reflects both product quality and market demand. They have demonstrated a deep understanding of the problem they are solving,” said Sameer Mehta, co-founder of boAt.

At present, Sortmyprep primarily supports international education boards, including IB and IGCSE. However, the company now plans to expand its offerings to include CBSE, ICSE and several other leading global curriculam.

Additionally, the startup continues to receive support through programmes and partnerships with Nvidia, Google for Startups, OpenAI, BITS Pilani and Ashoka University, further strengthening its technology and innovation ecosystem.

“We started Sortmyprep to solve one of education’s most persistent challenges: helping students translate learning into exam performance. This capital allows us to strengthen our vertical AI platform, accelerate product development, expand into new curricula and strengthen our global footprint while remaining focused on accuracy with expert-in-the-loop, personalisation and student outcomes,” the founders said in a statement.

The latest funding marks another milestone in Sortmyprep’s growth journey as it scales its AI-powered learning platform and broadens its curriculum portfolio. By combining personalised learning with advanced artificial intelligence, the startup aims to strengthen its presence across global education markets while delivering improved learning outcomes for students.

Paradigm Realty secures ₹100 crore from Arnya RealEstates Fund for flagship project 71 Midtown

BRL Editor

July 13, 2026

Paradigm Realty secures ₹100 crore from Arnya RealEstates Fund for flagship project 71 Midtown — Parthh K. Mehta, CMD & Chief Mentoring Officer, Paradigm Realty Group

Institutional capital infusion reinforces financial strength, accelerates execution, and reflects strong investor confidence in the Group.

Mumbai, 9th July, 2026: Paradigm Realty Group, one of Mumbai’s most trusted and rapidly growing real estate developers, has secured ₹100 crore from Arnya RealEstates Fund for its flagship residential development, 71 Midtown. Located near Sindhi Society, Chembur, the project is strategically positioned in one of the city’s most well-connected residential catchments.

The proceeds will be deployed towards completing the project across Phase 1 and Phase 2, ensuring seamless execution and timely delivery.

Spread across an approx. 4.5-acre gated community layout, 71 Midtown features thoughtfully planned 1 and 2 BHK residences designed for modern urban families seeking comfort, security, convenience, and community living.

Strategically located in Chembur, 71 Midtown offers excellent connectivity to BKC approximately 10 minutes away. This makes it a highly convenient residential address for professionals working in and around BKC, while the upcoming High Court in the Bandra East vicinity further strengthens its appeal for legal professionals. The project has witnessed robust demand from discerning homebuyers seeking premium residences that combine superior design, modern amenities, and excellent connectivity. It exemplifies Paradigm Realty Group’s unwavering commitment to quality, innovation, and customer-centric development.

Over the last 11 years, Paradigm Realty Group has established a strong footprint across Mumbai, successfully serving more than 3,100 families, completing 13 landmark projects, and delivering over 3.6 million sq. ft. of premium real estate. The company currently has six ongoing developments with approximately 4 million sq. ft. under active development, reinforcing its position as a significant player in Mumbai’s evolving real estate landscape.

Commenting on the transaction, Parthh K. Mehta, CMD & Chief Mentoring Officer, Paradigm Realty Group, said: “The ₹100 crore investment from Arnya RealEstates Fund marks a significant milestone in the growth journey of 71 Midtown. Beyond strengthening our financial position, it reflects the confidence that leading institutional investors place in our execution capabilities, governance standards, and long-term vision. At Paradigm Realty Group, we remain committed to creating exceptional living spaces while delivering sustainable value to our customers, partners, and stakeholders.”

Piyush Thakkaar, Director Investments, Arnya RealEstate Fund Advisors, added, “Real estate funding today is about backing projects with strong fundamentals, clear execution capability and long-term value. Our association with Paradigm Realty for 71 Midtown reflects our confidence in the project’s strategic location planning and the developer’s execution capabilities. We believe this partnership will support the timely development of a well-connected residential community in Chembur.”

The investment tenure is strategically aligned with the project’s development and completion cycle. This structured financing enhances the project’s cash flow visibility and provides a robust platform for accelerated execution while maintaining the highest standards of quality and timely delivery.

About Paradigm Realty Group

Paradigm Realty Group is a Mumbai-based real estate developer renowned for creating thoughtfully designed residential landmarks that blend innovation, architectural excellence, and superior lifestyle experiences. Guided by principles of transparency, integrity, and timely delivery, the company continues to redefine aspirational urban living and set new benchmarks in customer satisfaction.

For more information, visit: https://paradigmrealty.co.in/

Helsing raises $1.8 Billion, reaches $18 Billion valuation

BRL Editor

July 13, 2026

Munich-based defence technology startup Helsing has raised $1.8 billion in a Series E funding round, lifting its valuation to $18 billion and reinforcing its position as Europe’s best-funded defence technology company.

The latest investment follows last week’s $1.2 billion funding round for German drone manufacturer Quantum Systems, which more than doubled that company’s valuation to approximately $8 billion. Together, the two transactions highlight growing investor confidence in Europe’s rapidly expanding defence technology sector.

The funding also comes as European governments continue to increase defence spending after Russia’s invasion of Ukraine underscored the strategic importance of real-time battlefield intelligence, autonomous systems and advanced targeting technologies.

The Series E round attracted a diverse group of international investors, reflecting the growing global interest in European defence innovation. Participants included U.S.-based venture capital firms Dragoneer Investment Group, Lightspeed Venture Partners, General Catalyst, Iconiq and Disruptive. In addition, Goldman Sachs, JPMorgan and Canadian pension fund CPP Investments joined the funding round.

Founded in 2021, Helsing initially developed artificial intelligence software that helps defence organisations analyse battlefield data and improve operational decision-making. Since then, the company has expanded its portfolio to include autonomous strike drones, underwater surveillance systems and military aircraft applications, strengthening its presence across multiple defence technology segments.

Furthermore, Helsing has secured contracts with several European governments and defence companies. The startup also supplies drones to Ukraine through programmes supported by German government funding, further expanding its role in Europe’s evolving defence ecosystem.

The latest funding positions Helsing to accelerate product development, expand its defence technology capabilities and strengthen partnerships with governments and military organisations. As geopolitical tensions continue to drive defence modernisation, the company remains well positioned to capitalise on rising demand for AI-powered defence solutions across Europe and beyond.

BlueStone to double workforce, expand beyond malls to fuel next phase of growth

BRL Editor

July 13, 2026

BlueStone Jewellery and Lifestyle plans to more than double its retail footprint by fiscal 2030 as the jewellery retailer shifts its expansion strategy towards India’s high streets amid a shortage of premium mall space. The company also aims to nearly double its retail workforce while significantly increasing revenue over the next five years.

According to data from property consultancy Anarock, India currently has around 110 million square feet of Grade A mall space, compared with more than 400 million square feet in China and over 700 million square feet in the United States. Consequently, the limited availability of premium retail space is prompting several brands to prioritise high-street locations for expansion.

“We are fairly saturated,” Gaurav Singh Kushwaha, CEO, BlueStone Jewellery and Lifestyle, said. He added that the company already operates in nearly 90% of India’s quality malls and expects three-fourths of its future stores to open on high streets.

Backed by Prosus, BlueStone currently operates 340 stores across India and plans to increase that number to 705 by fiscal 2030. At the same time, the company aims to grow its revenue to ₹12,000 crore from ₹2,342 crore in fiscal 2026. Furthermore, BlueStone plans to expand its retail workforce to 4,000 employees, up from around 2,100.

Kushwaha noted that India’s limited supply of premium malls creates opportunities for jewellery retailers to grow through high-street formats. He also cited Tata Group’s Tanishq, which operates more than 500 stores, as an example of how jewellery brands can successfully scale outside malls, unlike many fashion and luxury retailers that rely heavily on mall footfall.

Meanwhile, several other retailers, including WestBridge Capital-backed Wooden Street and Asics, have also highlighted the shortage of premium retail space, particularly in major cities where demand continues to outpace supply.

Despite continued volatility in gold prices, BlueStone remains committed to its expansion plans. Like Kalyan Jewellers and Titan, the company continues to invest in new stores even as some smaller jewellery retailers adopt a more cautious approach because of rising input costs.

“I hope it stays range-bound, doesn’t go up, and doesn’t go down much,” Kushwaha said. “That’s the best environment to do business.”

By accelerating its high-street expansion strategy, BlueStone aims to strengthen its nationwide presence while capitalising on India’s growing organised jewellery retail market. As premium mall space remains constrained, the company’s focus on accessible high-street locations could provide a competitive advantage and support its ambitious revenue and growth targets over the coming years.

IPO-bound Zetwerk backs co-Founder Rahul Sharma’s AI robotics startup

BRL Editor

July 11, 2026

IPO-bound Zetwerk backs co-Founder Rahul Sharma's AI robotics startup — Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, co-founders, Zetwerk

IPO-bound manufacturing platform Zetwerk will back a new AI robotics startup launched by its co-founder Rahul Sharma, marking a strategic move into next-generation industrial technologies. According to people familiar with the matter, Zetwerk will participate as an equity investor in the US-based venture, while Sharma will transition to a non-executive role on the company’s board.

Although Sharma will step away from day-to-day operational responsibilities, he will continue to remain associated with Zetwerk. Meanwhile, Shreerang Godbole, who currently heads the company’s electronics business, is expected to take over Sharma’s operating responsibilities as the latter prepares to lead the new AI robotics venture.

The startup will independently raise additional capital to support its future growth. Neither the company nor Sharma commented on the development.

The structure closely resembles the model adopted by electric vehicle manufacturer Rivian, which spun out industrial robotics startup Mind Robotics while continuing to remain an investor. Since its launch, Mind Robotics has raised more than $600 million from external investors and achieved a valuation of around $2 billion. Similarly, Zetwerk sees strategic value in supporting Sharma’s new venture as it continues to expand its technology-driven manufacturing ecosystem, according to one of the people cited.

The development comes shortly after the Securities and Exchange Board of India (SEBI) approved Zetwerk’s proposed initial public offering (IPO) on July 10, 2026, clearing a major regulatory milestone for the company’s stock market debut. The proposed public issue will include a fresh issue of shares along with an offer for sale by existing shareholders, while the final issue size and valuation will be determined through the book-building process.

Earlier this year, the company confidentially filed its draft IPO papers, aiming to raise up to ₹4,200 crore (approximately $450 million).

In April, Zetwerk also revamped its leadership structure by appointing former telecom and MeitY secretary Aruna Sundararajan to its board. At the same time, co-founder and Chief Executive Officer Amrit Acharya assumed the additional role of Chairman.

As part of the organisational restructuring, Rahul Sharma became Managing Director of the newly established Precision Business, which oversees the electronics division, while co-founder Vishal Chaudhary took charge of the company’s aerospace and defence vertical.

Founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Vishal Chaudhary, Ankit Fatehpuria and Rahul Sharma, Zetwerk operates a technology-enabled manufacturing platform that connects industrial customers with a distributed network of suppliers and manufacturing facilities across sectors including energy, electronics, aerospace, defence and capital goods.

The company manages sourcing, production planning, supplier coordination and project execution through its proprietary Zetwerk OS platform. Over the years, Zetwerk has evolved from a digital manufacturing marketplace into a comprehensive industrial manufacturing platform. It also manufactures laptops, hearables, wearables and IT hardware while expanding backward into printed circuit board (PCB) production.

Backed by investors including Khosla Ventures, Accel, Lightspeed, Baillie Gifford, Peak XV and Rakesh Gangwal, Zetwerk reported a gross merchandise value (GMV) of ₹12,798 crore in FY25, compared with ₹14,443 crore in the previous financial year. Nevertheless, the company significantly reduced its net loss to ₹371 crore in FY25 from ₹918 crore in FY24, reflecting improving financial performance ahead of its planned IPO.

By investing in Rahul Sharma’s AI robotics startup while advancing its IPO plans, Zetwerk is reinforcing its long-term strategy of combining manufacturing expertise with emerging technologies. The move also highlights the company’s intent to strengthen its innovation ecosystem while positioning itself for sustained growth in the global industrial manufacturing landscape.

ECKO Hotels & Resorts debuts in Western India with Nashik Hotel

BRL Editor

July 11, 2026

ECKO Hotels & Resorts has expanded its national footprint with the launch of ECKO Hotel, Nashik, marking the hospitality brand’s first property in Western India. The opening represents a significant milestone in the company’s expansion strategy as it strengthens its presence across key business, leisure and pilgrimage destinations in the country.

Located on the Mumbai–Agra National Highway near the Ambad Industrial Corridor, ECKO Hotel Nashik caters primarily to modern business travellers while also serving leisure guests. The property offers 42 rooms and suites, including Standard, Premium, Executive Suite and Presidential Suite categories, each designed to combine contemporary functionality with warm and comfortable interiors.

The hotel also features Dandelion, a multi-cuisine restaurant serving Indian, Chinese, Continental and regional dishes alongside a daily buffet breakfast. Additionally, the property offers a dedicated boardroom, two flexible Orchid event spaces, a terrace venue and a landscaped lawn, making it suitable for corporate meetings, social gatherings and private celebrations.

The Nashik property reflects ECKO’s Re-leisure philosophy, which blends business convenience with meaningful leisure experiences under one roof. The city continues to attract corporate travellers because of its thriving industrial ecosystem, while its renowned vineyards have established Nashik as one of India’s leading wine tourism destinations.

Furthermore, the hotel provides convenient access to several important pilgrimage destinations. Shirdi, home to the revered Sai Baba Temple, is located around 90 kilometres away, while Anjaneri Hill, believed to be the birthplace of Lord Hanuman, offers another significant spiritual attraction. Nashik also occupies a prominent place in Hindu pilgrimage, as it hosts the Kumbh Mela every twelve years, with the next edition scheduled for October 2026.

Speaking about the expansion, Perkin Rocha, Founder, ECKO Hotels & Resorts, said, “Nashik has been on our radar for some time – and the timing felt right. This is a city that punches above its weight. It draws corporate travellers, pilgrims, wine enthusiasts, and leisure seekers, often all at once. That is exactly the kind of location where the ECKO model thrives. We are not just opening a hotel; we are making a statement about where we are headed in Western India. This opening marks a defining chapter in our journey to build a hospitality brand that is both commercially strong and rooted in the fabric of the places we enter.”

The opening of ECKO Hotel Nashik further strengthens the brand’s growing hospitality portfolio, which already includes properties across Haridwar, Rishikesh, Pandukeshwar, Lansdowne, Amritsar, Udaipur, Hyderabad and Bengaluru. Moreover, the company has announced upcoming hotels in Dehradun, Goa, Puri and Rajasthan, reflecting its continued expansion across leisure, pilgrimage and business destinations.

By entering Western India through Nashik, ECKO Hotels & Resorts has taken another strategic step in broadening its geographic presence. The latest addition not only enhances the brand’s nationwide portfolio but also positions it to capitalise on one of India’s most economically vibrant and rapidly growing hospitality markets.

The Ten opens in Siolim, bringing boutique luxury to North Goa

BRL Editor

July 11, 2026

The Ten, an all-suite luxury boutique resort, has officially opened in Siolim, marking the first North Goa property from the founders of Vivenda Dos Palhaços in Majorda and Ciaran’s in Palolem. Through this launch, the hospitality group has expanded its boutique portfolio into North Goa while focusing on personalised guest experiences and limited occupancy.

Situated close to North Goa’s popular beaches, restaurants and art galleries, The Ten features ten luxury suites and twenty-five bedrooms. Guests can book individual suites or reserve the entire property as an exclusive private estate for family gatherings, celebrations and group stays.

Speaking about the launch, Manak Singh, Founder, The Ten Goa, said, “North Goa’s luxury hospitality has long sat at one of two extremes: large commercial resorts where service feels industrial or small boutique stays where it feels restricted. With The Ten, we have built for the space between them a property where guests walk in and feel like a home away from home, rather than checked in.”

One of the resort’s defining operational strategies is its occupancy policy. The Ten will stop accepting reservations for specific dates once bookings reach 50 percent of its available inventory. Consequently, the property aims to maintain personalised service standards while offering guests a quieter and more exclusive hospitality experience.

Architect Rita Mody Joshi designed the resort around a “Timeless by Design” philosophy, giving every suite a distinct layout and interior aesthetic. Furthermore, the property features five swimming pools, including a rooftop infinity pool overlooking the scenic landscape of Siolim.

The accommodation revolves around a central shared courtyard, while every suite includes a private living room and a fully stocked pantry. Additionally, five first-floor suites offer private balconies, whereas four ground-floor suites provide direct access to private plunge pools.

The resort also places significant emphasis on customised dining experiences. Guests can collaborate with the head chef to curate personalised menus featuring North Indian, Coastal Goan, European, Italian and barbecue cuisines. Moreover, they can choose The Ten Tables, a private five-to-six-course dining experience served inside the suite, beside the pool or in the terrace garden.

In addition, The Ten has introduced an open bar policy under which guests can enjoy breakfast until noon. The property also allows guests to bring their own alcoholic beverages without paying corkage charges, while bartender services remain available on request. Guests can further order meals from restaurants across North Goa, with the resort’s hospitality team handling plating and presentation to deliver a seamless dining experience.

With its debut in Siolim, The Ten strengthens Goa’s growing boutique hospitality sector by combining personalised service, limited inventory, flexible dining concepts and exclusive guest experiences. At the same time, the opening expands the presence of the team behind two of Goa’s well-known boutique hospitality brands while catering to travellers seeking privacy, luxury and bespoke service.

ALIVAA Hotels & Resorts enters Madhya Pradesh with Maharaja Kothi, Bandhavgarh

BRL Editor

July 11, 2026

Bandhavgarh’s hospitality landscape is set to welcome a new premium offering as ALIVAA Hotels & Resorts has announced its entry into Madhya Pradesh by signing Maharaja Kothi, Bandhavgarh. The company has partnered with HHR Group of Hotels and Resorts for the project, marking ALIVAA’s expansion into Central India’s thriving wildlife and upscale leisure market while bringing its operational expertise to one of the world’s most renowned tiger conservation destinations.

Located in the heart of Madhya Pradesh, Bandhavgarh attracts travellers from across the globe because it boasts one of the highest densities of Royal Bengal Tigers. The region, which once served as the private hunting grounds of the Maharajas of Rewa, seamlessly combines royal heritage with exceptional biodiversity. Moreover, Bandhavgarh National Park stretches across rugged ridges, ancient sal forests and expansive meadows, all overlooked by the 2,000-year-old Bandhavgarh Fort. As a result, the destination continues to attract wildlife enthusiasts, eco-tourists and experiential travellers seeking immersive nature-based experiences.

The signing also strengthens ALIVAA Hotels & Resorts’ presence in India’s premium leisure segment as the company continues to expand into high-potential travel destinations.

“Entering Madhya Pradesh through a destination as iconic as Bandhavgarh aligns perfectly with our vision of curating exceptional leisure experiences. Maharaja Kothi captures the untamed spirit of the region while offering the refined comfort our guests expect. Our partnership with HHR Group lets us pair Bandhavgarh’s royal heritage with ALIVAA’s technology-driven revenue systems and high-touch service to create lasting value for owners and guests alike,” said Akash Bhatia, chief executive officer, Management & Franchise, ALIVAA Hotels & Resorts.

Highlighting the company’s long-term growth strategy, Vikramjit Singh, chairman and managing director, ALIVAA Hotels & Resorts, said, “Our alliance with HHR Group reflects a shared set of hospitality values. As ALIVAA expands across India’s premier leisure corridors, moving into wildlife tourism is a natural next step. Maharaja Kothi, Bandhavgarh, will anchor our presence in Central India and set a new benchmark for boutique and experiential travel in the region.”

Meanwhile, Pushpraj Singh, owner of the HHR Group of Hotels and Resorts, emphasised the significance of the collaboration and said, “Bandhavgarh holds deep personal and historical significance for us, and our aim has always been to offer a sanctuary worthy of its royal legacy and natural wonder. ALIVAA’s operational expertise, distribution strength, and genuine respect for local heritage make them the right partner for HHR Group. Together, we look forward to elevating the guest experience so that every traveller feels the true essence of royal Central Indian hospitality, matched with world-class contemporary service.”

By entering one of India’s most sought-after wildlife destinations, ALIVAA Hotels & Resorts continues to strengthen its expansion strategy while capitalising on the growing demand for experiential and luxury leisure travel. Furthermore, the partnership with HHR Group positions the company to deliver heritage-inspired hospitality supported by modern operational excellence, creating long-term value for both guests and stakeholders.

Neighbourhood grocery chain Sumosave secures ₹50-Cr to fuel expansion

BRL Editor

July 11, 2026

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.

1...789...536 Page 8 of 536

CONNECT WITH US