Indian grocery delivery startup PepperTap raised a $10 million series A funding from Sequoia Capital and SAIF Partners. Sequoia Capital also invested a $1.2 million seed round in the startup last month.
As reported by TechCrunch, the funding will be used in startup’s expansion in 10 more cities including Hyderabad, Bangalore, Mumbai, Pune etc. by the end of 2015. The company initially launched its services in Gurgaon before expanding to Delhi and Noida last month.
PepperTap is an on-demand grocery delivery service in India that provides convenience, on-time and on-demand delivery to its patrons, along with superlative services and hand-picked products.
PepperTap founder Navneet Singh said that the company does not keep keep its own inventory and instead focuses on creating online catalogs for stock from local retailers and training delivery staff to provide quick service on scooters or bicycles. It plans to stay focused on on grocery deliveries instead of expanding into other verticals to keep the business streamlined.
Other similar players such as ZopNow and Grofers also raised funding recently. ZopNow raised a funding of $10 million led by San Francisco, California-based Dragoneer Investment Group, with participation from existing investors Accel Partners, QualComm Ventures and Times Internet. Grofers too added additional $35 million to its coffers from Tiger and Sequoia in Series B funding.Category Ecommerce Startups