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 »
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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 »
PepperTap will continue to run its reverse logistics business and will also get into other logistics services for e-commerce firms.
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 »
Are private labels the miracle cure for hyperlocal delivery companies looking to boost profits? Some hot start-ups in the space think so, their thinking encouraged by investors in an environment where money is slowly becoming scarce. Grofers and PepperTap, for instance, are looking to launch their own private label products… Read more »
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 »
Even start-ups that are relatively well-funded are shutting new business initiatives that aren’t yielding immediate returns or entailing high costs.
Since its launch in October 2011, BigBasket has raised at least Rs 580 crore from a clutch of investors, including Helion Venture Partners, Bessemer Venture Partners, Ascent Capital and Sands Capital.
As concerns around profitability hover around hyper-local delivery companies, start-ups such as Grofers and PepperTap are looking for newer avenues such as advertising to sustain margins. Grofers (run by Locodel Solutions Pvt. Ltd) and PepperTap (Nuvo Logistics Pvt. Ltd), which currently work on a commission-based model, are in talks with… Read more »
The Indian unit of the US giant, which is battling homegrown rivals Flipkart Ltd and Snapdeal for dominance of the e-commerce market, has tied up with local grocery stores and modern retailers such as Big Bazaar, Reliance Fresh, Bharat Petroleum In and Out, Godrej Nature’s Basket and Food World.