25 February 2022, Mumbai:
Value retail chain startup 1-India Family Mart has raised Rs 50 crore ($6.6 million) as a part of its Series B round from Dubai-based financial services firm Gulf Islamic Investments (GII).
The Gurugram-based firm, which also counts Carpediem Capital as its other financial backer, will leverage the capital to double stores count, both organically and through acquisitions.
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“We are excited to raise a fresh funding round from GII which will significantly boost our expansion plans, strengthen our retail presence and drive growth trajectory of the group,” said Jay Prakash Shukla, CEO at 1-India Family Mart.
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*Figures mentioned in the above article have been sourced from vccircle.com article.
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