Hyperlocal delivery segment in India is the one which has been witnessing a lot of activities taking place, be it funding acquisitions and even cropping up of new players.
Just two days back Bangalore-based grocery startup ZopNow which had changed its model to become a hyperlocal delivery startup had announced that it has raised over $10 Mn funding, today another startup dealing in this space has raised $10 Mn.
Gurgaon-based, mobile-first hyperlocal grocery delivery services startup, PepperTap has received Series A funding of $10 Mn from SAIF Partners and Sequoia Capital. This round for PepperTap comes just few weeks after it had raised seed funding from Sequoia. The 5 month old startup plans to use the funds raised for building a highly-skilled team that is in sync with global standards and for expanding the reach of PepperTap to 10 more cities in the country by the end of the year.
Launched in November 2014, PepperTap offers more than 15,000 SKUs across categories including Staples, food & dairy products, household items, fresh fruits & vegetables etc. Consumers can place their orders through a mobile app and the startup claims to deliver products in a span of two hours.
PepperTap app is presently available on Google’s Android and Apple’s iOS platforms.
Navneet Singh, Co-founder, PepperTap commented, “This investment will help us iron out any chinks in our armor, and build on our strengths to take our business from a single-city operation to a pan-India scale.”