Recently many on demand Grocery supply chains like PepperTap, Grofers, BigBasket have banged the market and are doing great in their area and also attracted strategic investors like SnapDeal, Bessemer Venture Partners, Sequoia Capital etc.
Delhi based, on demand grocery delivery startup PepperTap has raised $36 million in Series B funding led by e-commerce marketplace Snapdeal along with existing investors Sequoia India and SAIF Partners. PepperTap also plans to raise another $20 Mn in next few weeks and are in advance stage of talks for this investment. PepperTap plans to use the funding raised to expand its presence to 75 cities across India.
“This investment is part of a strategic partnership with PepperTap. We look forward to working closely with PepperTap to make them very successful, leveraging the capabilities we have built in Snapdeal’s ecosystem.” – CEO, SnapDeal, Kunal Bahl
Launched in November 2014, founded by former e-commerce logistics company Delhivery executives Navneet Singh and Milind Sharma, PepperTap recently expanded to 10 cities and claims to generate around 20,000 average transactions a day.
In A-round of funding, It had previously raised $10 Mn from SAIF Partners and Sequoia Capital in April this year and $1.2 million from Sequoia Capital in November 2014.