Jugnoo’s coffers are growing. After raising $3 million in Series B in October, the autorickshaw aggregator, Jugnoo, has added another $2.5 million in this ongoing round of funding from its existing investors Paytm and Snow Leopard.
Since its launch in November 2014, Jugnoo has extended its services in 22 cities with 2 million users and 30,000 transactions per day. The funds will enable the startup to expand pan-India, launch new offices, improving supply quality, incentives and rewards targeted towards driver welfare and performance improvement, scaling up marketing and advertising campaigns.
Commenting on the development, Samar Singla, Co-founder and CEO, said, “We see great prospects lined up for Jugnoo with this funding. Our growth is improving with each new city expansion. We will invest this funding to increase our presence to 25 more cities over the coming six months and provide access to the remotest corners of the country.”
The company claims to have 6000 autos employed under its brand at present.Category Investments News