Fashion
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.
