15 February, 2016, Bangalore: Ratan Tata, Chairman Emeritus, Tata Sons makes his another move of backing-up yet another startup and this time it was SnapBizz which gets the funding from the business tycoon. Though the company has not disclosed the amount, it is looking forward to utilise the funding in its further development. SapBizz, which devises technology for corner grocery stores, works with more than one thousand kirana stores across Mumbai, Pune, Delhi, Hyderabad, Chennai and Bengaluru, reports Times Of India.
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. This reflects in his investment in SnapBizz as we have begun a humble journey to reverse the marginalization of SMBs and driving digital inclusion in the large consumer goods industry.”
SnapBizz in its Series A funding round had raised around US $7.2 million from Jungle Ventures, Taurus Value Creation, Konly Venture and Blume Ventures. The company expanded its reach to smaller cities across the country with series A funding and it intends to stretch it further more with the help of fresh funding from Tata.