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Tag: SnapBizz

  • Ratan Tata invests in retail tech startup SnapBizz

    Ratan Tata invests in retail tech startup SnapBizz

     Ratan Tata Now Invests In Retail Tech Startup SnapBizz. Tata Sons’ chairman emeritus Ratan Tata has invested an undisclosed amount of funding in retail technology startup SnapBizz Cloudtech Pvt Ltd.

    SnapBizz is now has presence in retail outlets in Mumbai, Pune, New Delhi, Bengaluru and Hyderabad through a technology solution addressing the key business challenges faced by them.

    Commenting on the funding, Prem Kumar, Chief Executive, Snapdeal said, “Tata, as one of the most respected names in corporate India, brings a rich legacy of doing business with a human touch”.

    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. “It comprises of tablet, barcode scanner, thermal printer and an intelligent external 22” consumer facing LED display for Hi-Definition consumer engagement.

    SnapBizz had previously secured US$1.7 million in seed funding from Qualcomm Ventures, Jungle Ventures, National Research Foundation of Singapore, Taurus and Blume.

    This is Mr Tata’s eighth investment in start-ups in 2016 so far.

    In a diverse market like India, where the traditional kirana stores make 98% of store universe and 85% of retail business, the Snapbizz solution is revolutionizing kirana stores across the country by connecting all the dots of the fragmented FMCG ecosystem (brands, retailers, consumers, wholesalers and distributors) and addresses pain points of all stakeholders. This year, Tata has also invested in tea etailer Tea Box, coupons site CashKaro, baby products e-commerce site FirstCry, startup analytics firm Tracxn, animal lovers’ portal DogSpot, Invictus Oncology and Moglix.

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  • Retail-tech start-up SnapBizz raises $7.2 million

    Retail-tech start-up SnapBizz raises $7.2 million

    SnapBizz Cloudtech Pvt Ltd, a start-up that devises technology for corner grocery stores, has raised $7.2 million in an investment round led by venture capital firms Jungle Ventures, Taurus Value Creation, Konly Venture and Blume Ventures to expand across cities.

    The Bengaluru-based company, which was started in 2013, had earlier received seed funding of $1.7 million from Qualcomm, Jungle Ventures, National Research Foundation of Singapore, Taurus Value Creation and Blume Ventures.

    SnapBizz provides grocery stores an Android-based, cloud-connected business platform in the form of a tablet, barcode scanner, printer and a consumer-facing LED display, with the technology enabling merchants to manage their billing, inventory and customer engagement.

    “We are convinced with the SnapBizz business model, which brings a tailored technology solution to kirana stores and believe that it will play a large role in India’s retail growth story,” said David Gowdey, managing partner, Jungle Ventures.

    SnapBizz is one of a small but growing number of start-ups like IPay Tech India Pvt. and StoreKing that aim to help small businesses like grocery stores to bridge the digital gap by targeting specific uses like payments or enabling e-commerce.

    “We are thrilled that all ecosystem players have shown confidence in our solution and that our existing investors have reiterated their support to us,” Prem Kumar, chief executive officer, SnapBizz, said in a statement.

    “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,” he added.