VC Fund Investments
Value retailer 1-India Family Mart raises Rs.50-Cr from Dubai's GII
New Delhi-based value retailer 1-India Family Mart, run by Nysaa Retail Pvt Ltd, has raised INR 50 crore in series B funding from Dubai-based Gulf Islamic Investments (GII). The Carpediem Capital-funded retailer, which operates about 100 outlets in Tier 2, 3 and 4 cities, will use the funds for expansion and to push its e-commerce and omni-channel strategies. GII's funding is the second investment into the company after Carpediem's capital infusion in 2018. Starting with a store in Uttar Pradesh in 2013, the group now operates outlets in Bihar, Jharkhand, Chhattisgarh and in the Northeast states, selling its fashion apparel, lifestyle products and general merchandise.
From the Venture Intelligence PE-VC Deal Database: In Dec-2017, Nysaa Retail had raised over INR 40 Cr from Carpediem Capital and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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