New Delhi, Sept. 23 -- Former Metro Cash & Carry India and Hippo Homes chief executive officer Arvind Mediratta is targeting 100 stores for his two-month-old grocery venture FreshTerra as the company prepares to raise fresh capital and expand beyond the National Capital Region.

To begin with, the company plans to operate 12-15 stores in the region by FY28, after which it will plan for 100 stores over the longer term.

"The company is not looking to build another premium supermarket chain. We want to create a food retail business that can scale nationally and eventually access public markets," Mediratta said.

FreshTerra, operated by Elixiir Foods, received $9 million in seed funding from investors led by 3one4 Capital with participation ...