Bangalore based retail-tech startup SnapBizz has announced that it has raised funding from Ratan Tata, Chairman Emeritus, Tata Sons. In January 2016, SnapBizz had announced a Series A funding of $7.2 million led by Jungle Ventures, Taurus Value creation, Konly Venture and Blume Ventures.
With the mission of transforming the unorganised fragmented retail sector in the country, SnapBizz currently works 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.
Prem Kumar, CEO and Founder, SnapBizz said, “We are privileged to have Mr. Tata as an investor at SnapBizz. As one of the most respected names in corporate India, Mr. 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 SMB’s and driving digital inclusion in the large consumer goods industry. A visionary of Mr. Tata’s stature showing confidence in SnapBizz is certainly a big boost for our business idea and will continue to accelerate the digital revolution in India’s kirana stores. Brands are also seeing this an opportunity to partner with us in order to be a well wisher of the retailers and get the share of mind of the retailer to appropriate the positioning as the company that cares for the retailers.”
Snapbizz is on a mission to transform the face of small-scale retail sector in the country and empower kirana stores not only to be competition ready but to have a competitive edge by making them “Virtual Super Markets”.