The startup has developed an online platform to connect various stakeholders of the fragmented retail ecosystem in India
SnapBizz, a startup that offers an Android-based, cloud-connected platform to grocery retailers in India, has roped in leading industrialist Ratan Tata as an investor.
The announcement comes less than a month after the Singapore- and India-based startup announced US$7.2 million in Series A led by Jungle Ventures, with participation from Taurus Value Creation, Konly Venture and Blume Ventures.
SnapBizz had previously secured US$1.7 million in seed funding from Qualcomm Ventures, Jungle Ventures, National Research Foundation of Singapore, Taurus and Blume.
Founded in 2013, SnapBizz has developed an online platform to connect various stakeholders of the fragmented retail ecosystem in India.
The retail technology solution comprises a tablet, barcode scanner, printer and an intelligent external large consumer-facing LED display for consumer engagement. On the other hand, it helps brands to contextually engage consumers in and out of stores, track promotions, analyse their business and connect directly with kirana (grocery in Hindi) retailers.
The firm currently claims to be working with over a thousand kirana stores across Mumbai, Pune, Delhi, Hyderabad, Chennai and Bangalore, and aims to expand its footprint across other tier 1 and 2 cities.
“We are privileged to have Tata as an investor at SnapBizz. As one of the most respected names in corporate India, Tata brings a rich legacy of doing business with a human touch. This reflects in his investment in SnapBizz as we have begun a humble journey of reverse marginalisation of SMBs and driving digital inclusion in the large consumer goods industry,” said Founder and CEO Prem Kumar.
Tata turned serial investor last year and has invested in over two dozen startups, mainly B2C. His investments include Ola, Teabox, UrbanClap, CashKaro, Tracxn, Crayon Data, and Xiaomi. He is also Special Advisor at Jungle Ventures, a leading South Asia-focussed early-stage VC fund.
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