Jugnoo, a hyperlocal on-demand multi-service provider which employs autorickshaws as its logistic partners has closed Series A round of $5 million. The round was led by Snow Leopard with participation from Paytm.
The startup has three wings of services with their respective apps. They are:
- Jugnoo Autos on Demand
- Jugnoo Meals
- Jugnoo Fatafat
It not only offers transportation facility to the users but also provides delivery services. According to the company, the brand experiences over a 50% repeat purchases every month. Jugnoo has been growing 20% week on week and is aiming at online sales of Rs1000 crore in the next 4-5 years.
Notably, just a couple of months back, in April beginning, the company had raised $1m from Rajesh Mathur (Junglee Flywheel), Vikas Taneja (Partner and MD BCG Group, previous investments include Rapportive, PubNub), Kirloskar Bros and others in a seed round.
Samar Singla, CEO Jugnoo maintains, “It seems we are the first company in the country to successfully do both hyperlocal delivery and transportation over same infrastructure layer with a significant ratio of both…I am very glad to have Snow Leopard and PayTM on board for our Series A funding. Their vast experience in building successful consumer initiatives will help Jugnoo in its next phase of growth.”
Jugnoo was profiled by iamWire in May. To get a detailed idea about what the startup does and how it operates, click here.