New Delhi, April 15 : Online grocery delivery services firm PepperTap today said it has raised USD 10 million from venture capital funds SAIF Partners and Sequoia Capital for its expansion plans.
At present, the ecommerce startup delivers groceries from its partner stores in Gurgaon, Delhi and Noida.
The funding will be used for building a highly-skilled team and for expanding the reach to up to 12 cities in India by the end of the year.
Prior to this round, PepperTap had raised USD 2 million in early stage funding.
“We have raised USD 10 million. We will utilise the funds for adding about 400 people across various departments in the next three to four months as well as increase our reach to 10-12 cities by end-2015,” PepperTap Co-founder Navneet Singh told PTI.
For its first phase of expansion, the firm has identified Mumbai, Pune, Bangalore and Hyderabad. It will consider the remaining cities in the second phase, which is expected by July-August, he added.
At present, PepperTap has 100 employees on its rolls, which it will expand to 500 by August, Singh said.
Launched in November 2014, PepperTap offers groceries and daily-need products through its partner stores and offers over 15,000 products across categories.
“Consumers can place their orders through a mobile app and deliveries are made in a span of two hours. PepperTap app is available on Google’s Android and Apple’s iOS platforms,” Singh said.