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Online grocery delivery services start-up PepperTap has raised $10 million as Series A funding from SAIF Partners and Sequoia Capital.
The company said it will use these funds to build a highly-skilled team and expand its reach to 10 more cities by this year-end.
The firm was launched in November last year and offers a wide range of groceries and daily needs products, including fresh fruits & vegetables. Consumers can place their orders through a mobile app and deliveries are made within two hours.
In a statement, Navneet Singh, co-founder, Pepper Tap, said, “Our sole focus is to build the best grocery and fresh product-buying experience for our customers. Through our business model, we are able to provide delight to our customers, increase sales for partner stores and create a concrete and sustainable business for our shareholders.”
Shailendra Singh, Managing Director, Sequoia Capital India Advisors, said, “We are delighted to co-lead the series A with SAIF Partners and work with them to help make PepperTap a leading mobile commerce company in India.”
Ravi Adusumalli, Managing Director, SAIF Partners, said, “Grocery in India is a huge market and grocery shopping on mobile is already seeing strong adoption. We believe that PepperTap’s hyperlocal marketplace approach is the most efficient way to cater to this market, and can scale very rapidly.”
Prior to this, PepperTap secured an undisclosed seed funding from Sequoia Capital recently.
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