Retail technology firm, SnapBizz has raised $7.2 million led by Jungle Ventures, Taurus Value Creation, Konly Venture and Blume Ventures.
The freshly raised capital will be utilized in pushing the company’s growth and expansion across cities.
Commenting on the development, CEO, Prem Kumar said, “We are thrilled that all ecosystem players have shown confidence in our solution and that our existing investors have reiterated their support to us. Large retail and online players account for only 10-15% of any brand’s business. The remaining 90% happens through traditional trade and there is zero or minimal last-mile connectivity between brands, consumers and retailers. We are on a mission to address this big gap while addressing the pain points of the kirana stores.”
SnapBizz’s solution is present in traditional retail outlets in Mumbai, Pune, New Delhi, Bengaluru and Hyderabad via a technology solution. The solution comprises a tablet, barcode scanner, printer and an intelligent consumer-facing LED display for consumer engagement.
The company had earlier raised $1.7 million, making the overall investments at around $9 million, reports ET.