1-India Family Mart was established in 2012[9][10] and began operations in 2013. The retail chain was co-founded by Jay Prakash Shukla and Ravinder Singh.[2] Nysaa Retail Pvt. Ltd. is the parent company of 1-India Family Mart.[2] JP Shukla CEO and co founder of family mart is also known to be very fond of poetry and is a fan of T. S. Eliot's work[11]
It is engaged in the business of selling fashion apparel, lifestyle products and general merchandise through stores.[12]
In 2022, a Mumbai-based ethnic apparel manufacturer Suumaya Industries bought a minority stake in its parent company Nysaa Retail.[12]
Funding
In 2017, 1-India Family Mart has raised a funding of $6.5 million (42.5 crore) from domestic private equity fund Carpediem Capital.[2][5][7][13][14] In May 2019, company got its second round funding as external debt of amount 20 crore by a consortium led by APAC Financial Service.[15][16]
In 2022 the company raised INR 50 crore as a part of Series B round of funding. The round was led by the Dubai-based Gulf Islamic Investments (GII).[17][12]
