Top Story


Home >> Media - Others >> Article

PepperTap raises $36 million in Series B funding from Snapdeal, Sequoia and SAIF

Font Size   16
PepperTap raises $36 million in Series B funding from Snapdeal, Sequoia and SAIF

PepperTap,an  on-demand hyperlocal grocery delivery service, has closed a Series B funding round of $36 million. The latest funding round was led by Snapdeal along with existing investors Sequoia India and SAIF Partners. The funding also saw participation from new investors like Ru-net, JAFCO, and BeeNext. Additionally, PepperTap is in advance talks to expand this round by another $20 million from other financial investors. This second close is expected to happen in the next few weeks.

Speaking on the investment, Navneet Singh, Co-Founder and CEO, PepperTap commented, “PepperTap has been on a hyper-growth track since its inception nine months ago. From less than $1 million GMV run rate at the start of Fiscal Year 2015-16, we are solidly on track to end the year with a GMV run-rate of over $250 million. Investment by an established player like Snapdeal is a stamp on our asset-light, low burn business model and our execution track record. We look forward to leveraging Snapdeal’s experience to help our partner stores develop their capabilities and multiply their sales.”

Kunal Bahl, Co-Founder and CEO of Snapdeal added, “We are excited to be entering into a strategic partnership with PepperTap. Navneet and his team have done a phenomenal job in building PepperTap into India’s leading grocery ordering platform. We look forward to working closely with PepperTap to make them very successful, leveraging the capabilities we have built in Snapdeal’s ecosystem.”

Shailendra Singh, Managing Director, Sequoia India, said, “PepperTap is making exciting progress in building the most efficient hyper-local infrastructure to deliver a great user experience for grocery shopping. It’s thrilling to see the incredible progress Navneet and team have made since Sequoia India’s seed investment and we're delighted to support them in their journey.”

Ravi Adusumalli of SAIF Partners added, "Since our investments a short while ago, the team at PepperTap has done an extraordinary job of growing and establishing themselves as the clear leader in the hyperlocal grocery space. We believe that this is a massive market and our focus only on groceries will enable us to have the best customer service in the market."

With the infusion of fresh funds, PepperTap plans to expand its presence to 75 cities across India by the end of the current fiscal year. The company also plans to invest heavily in strengthening its technology and supply chain capabilities. PepperTap expects to have more than 5,000 staff by year end to support its operations.


Rishi Pratim Mukherjee finds his eternal peace at home on a typical weekend by reading his all time favourite books or simply switching off

Prashant Puri, Co-Founder and CEO of Adlift, talks about his journey from being the company’s co-founder to an investor and also tells us how automation will soon take the top spot in every marketer's list

Shikha Kapur, CMO- ‎Fox Star Studios, speaks on the evolution of digital marketing in the organisation

Mayank Pareek, President, Passenger Vehicle Business Unit, Tata Motors, on their three-year association with IPL where they will promote their new model Tata Nexon

According to media reports, the new logo will not be very different from the existing one and the changes may not be very visible

Visual highlights from the seventh edition of IMPACT’s 50 Most Influential Women event held in Mumbai on Thursday 22nd March.

The FIR was filed by the police after BARC India’s vigilance team found out that the details of the households where BARC India’s BAR-O-Meters are installed were compromised