Ecommerce, Investments

Exclusive: Grocery Startup PepperTap to Close $60M in Series B Funding

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Shown Above: PepperTap Team

Gurgaon based mobile grocery delivery startup PepperTap to raise $60 million in Series B round of funding, sources directly familiar with the matter told iamWire. Further the sources confirmed that the deal would be closed in a week’s time with its existing investors SAIF and Sequoia Capital participating in this round, along with a couple of new foreign investors coming onboard.

However, PepperTap’s Co-Founder, Navneet Singh refused to comment on the company’s present valuation and future plans with the raised amount. In April 2015, it had secured $10 million series A funding from Sequoia Capital and SAIF Partners.

Founded in 2014 by Navneet Singh and Milind Sharma, the company is an on-demand grocery delivery service in India that allows a user to buy grocery, fruits & vegetables through the company’s app, that is available for Android and iOS users.

The company’s service is live in Delhi/ NCR, Pune, Hyderabad, Bangalore and is about to launch its services in tier-2 cities that include Ahmedabad, Surat, Jaipur, Chandigarh, Lucknow and Kolkata.

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The online grocery startup is competing with other players like ZopNow, Grofers, BigBasket and other grocery startups. It shares Sequoia as a common investor with Grofers, which has raised $45.5 million in 3 rounds from Tiger Global Management and Sequoia Capital.

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