Grocery chain Sumosave Retail raises Rs 50 crore led by 12 Flags

Grocery supermarket chain Sumosave Retail Ventures has raised Rs 50 crore in a pre-series B round led by consumer-focussed investment firm 12 Flags Group, with Stride Ventures providing venture debt as the company looks to expand its store network.

Founded in 2022, Sumosave had previously raised $3.3 million from Lightspeed and angel investors. The firm operates company-owned neighbourhood supermarkets across east and north India, catering largely to middle and lower-middle-income consumers.