India: Hyperlocal startup Peppertap shutting ops in Mumbai, 5 other cities

Posted by & filed under Startup Asia

Hyperlocal delivery start-up PepperTap is shutting down operations in six cities including Mumbai, Kolkata, Chennai and will be laying off about 400 delivery men, highlighting heightened pressure on start-ups to conserve capital amid an ebbing funding environment. The news comes within a month after larger competitor Grofers decided to shut… Read more »

India: Online grocer PepperTap parent clocks higher profit on demand from reverse logistics biz

Posted by & filed under E-Commerce & Consumer Internet

Reverse logistics firm Nuvo Logistics Pvt. Ltd, which also runs online grocer PepperTap, posted a profit in 2014-15 on higher demand for its business of handling product returns, official data showed. The company posted a profit of Rs.87 lakh on revenue of Rs.19.5 crore, according to documents filed with the… Read more »

India: Grocery delivery app PepperTap acquires Jiffstore, raises additional funding

Posted by & filed under Deals & Investment

PepperTap, an on-demand hyperlocal grocery delivery service, has acquired Bangalore-based Jiffstore operating in the same space for an undisclosed amount, according to a statement. Besides, the startup has raised additional $4 million in a series B round of funding from Innoven Capital, the Indian lending arm of sovereign fund Temasek Holdings, taking the total… Read more »

India: PepperTap secures $36m in fresh funding from Snapdeal, Sequoia, and others

Posted by & filed under Venture Capital

PepperTap, an on-demand hyperlocal grocery delivery service, has raised $36 million (about Rs 239 crore) in a fresh round of funding, led by e-tailer Snapdeal and existing investors Sequoia India and SAIF Partners. The funding also saw participation from new investors including Russian investor Ru-net, Japan’s private equity company JAFCO and… Read more »

India Dealbook: Siyaram buys rights of Italy’s Cadini; 500 Startups, Snapdeal founders fund Capabiliti; Snapdeal may invest in PepperTap

Posted by & filed under Deals & Investment

Siyaram Silk Mills has bought ownership rights to manufacture and market Italian lifestyle brand Cadini in India, Sri Lanka and few other countries in West Asia. In the funding space, recruitment startup Capabiliti has raised $400,000 led by 500 Startups, Smile Multimedia and angel investors like Snapdeal Co-founders Kunal Bahl… Read more »