In a significant investment manuvare that speaks volumes about the future of the investment landscape in the country, Paytm has led yet another $10 million round in Jugnoo, the auto aggregator platform which also delivers groceries and other stuff via the iconic auto-rickshaw.
Paytm certainly seems to have very high hopes from the barely one year old Auto aggregator, since this was the second time in only three months that it decided to pump in fresh money into Jugnoo. Coupled with its previous investments, Paytm is now a significant shareholder with almost 20 percent of stakes to its name.
What’s more, Jugnoo is already moving ahead and has speculatively engaged Japan based Softbank for another, larger round of funding. Speaking on the investment, Samar Singla, CEO and Co-Founder of the
We are entering new cities every three days, while we are planning to enter major metros in the coming months. We are doing 15,000 transactions per day currently and our aim is to take that to 100,000 by February next year.
Ambitious goals, but considering the fact that Jugnoo provides a whole bunch of services ranging from goods delivery, logistics to transport along with the faith — which usually translates to investments — shown by major players, Jugnoo may just manage to pull it off.