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PepperTap raises $40 million in Series B funding; acquires Jiffstore

  • Gurgaon-based on-demand grocery delivery startup PepperTap has closed its Series B round of funding with an additional $4 million from Innoven Capital, in addition to the $36 million raised recently from Snapdeal, Sequoia India, SAIF Partners, Ru-Net, Beenext and JAFCO Asia, Inc42 reported.
  •  
  • The startup
    has also acquired Bangalore-based Jiffstore for an undisclosed amount in a cash

    • Gurgaon-based on-demand grocery delivery startup PepperTap has closed its Series B round of funding with an additional $4 million from Innoven Capital, in addition to the $36 million raised recently from Snapdeal, Sequoia India, SAIF Partners, Ru-Net, Beenext and JAFCO Asia, Inc42 reported.
    •  
    • The startup
      has also acquired Bangalore-based Jiffstore for an undisclosed amount in a cash
      and stock deal. The move will help PepperTap to tap into Jiffstore’s talent
      pool and rely on it for technical prowess. Jiffstore team will join Peppertap’s
      Gurgaon and Bangalore offices, the report said.
    •  
    •  “We have been reaching out to companies who
      can help us better our product offerings and boost customer experience. In this
      respect, Jiffstore seemed like an apt choice – they are an established name in
      Bengaluru with loyal customers and an ever increasing dealer base. We hope to
      utilise their talent pool and seek tech support from them through this
      acquisition,” Navneet Singh, co-founder and CEO, PepperTap, said.
    •  
    • PepperTap
      will not venture into the same business as Jiffstore. While Jiffstore
      collaborates directly with the merchants and fulfil orders and passes on the
      customers, PepperTap handles everything from taking orders to procuring
      supplies and making deliveries, themselves.
    •  
    • The company
      kick-started operations in November, 2014, and since then, has expanded to 18
      cities across India with an employee strength of 1200, said the report.

     

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