PepperTap, the on-demand hyperlocal grocery delivery service has closed its Series B round of funding securing an additional $4 million from Innoven Capital, in addition to the $36 million raised recently from SnapDeal Sequoia India, SAIF Partners, Ru-Net, Beenext & JAFCO Asia.
The latest funding round has taken the total fund raised by PepperTap to around $51.2 million.
The company has also acquired Bengaluru-based personal grocery shopping platform, Jiffstore in an undisclosed amount of cash and stock deal. The idea behind this professional alliance is to tap into Jiffstore’s talent pool and rely on it for technical prowess. Jiffstore team will join Peppertap’s Gurgaon and Bangalore offices.
Highlighting the significance of this alliance, Navneet Singh, Co-founder and CEO, PepperTap said,
We have been reaching out to companies who can help us better our product offerings and boost customer experience. In this respect, Jiffstore seemed like an apt choice – they are an established name in Bengaluru with loyal customers and an ever increasing dealer base. We hope to utilise their talent pool and seek tech support from them through this acquisition.
A key tenet of this acquisition is that PepperTap will not venture into the same business as Jiffstore. While Jiffstore collaborates directly with the merchants and fulfill orders and passes on the customers. PepperTap handles everything from taking orders to procuring supplies and making deliveries, themselves.
Talking about the acquisition, Shameel, Jiffstore said,
Our idea of transforming the grocery shopping experience found the perfect synergy with PepperTap. Jiffstore’s simple and effective platform has got retailers and customers hooked. By joining hands, we hope to deliver an exceptionally delightful experience to the customers on a wider scale and a rapid pace.
In addition to this, on the occasion of its first year anniversary, PepperTap has also announced a series of cross- marketing consumer initiatives, under which well-known start-ups such as Zoomcar, Faasos, Local Oye, Sylofie and Inner Chef have come forward to offer PepperTap customers some exciting gifts.
Explaining the motive behind this cross-branding decision, Bharati Balakrishnan, Chief Business Officer, LocalOye, said,
We are extremely happy to see PepperTap turn one. We’re glad to participate in spreading the joy to their customers. It made a lot of sense for the brands to come together given that we service a similar customer demographic.
PepperTap has also been readily expanding its product offerings to provide a more satisfying grocery shopping experience to customers, and to offer a marketing channel to large FMCG companies. Of late large FMCG companies too have been seen launching their sampling campaigns or new products like Lipton Ice Tea, Amira Rice, Tata Grand Coffee, Sprite Zero, Coke Zero and Dabur Yoodley on the PepperTap app.
These offerings bring to consumers a unique opportunity to be able to experience new products and be first adopters. Also it gives the brands a never before available avenue to reach out to different specific target groups maximising their consumer connect.
With these consumer brands choosing to launch their products through the PepperTap app, we are sure that our platform is ripe with opportunities. This also means that our customers have an added incentive when they place their orders. It’s a win-win for all,
says Navneet Singh, Founder and CEO of PepperTap.
PepperTap has also introduced a one-of-its-kind vendor app that will soon go live on Playstore. The app, that’s in its pilot run, comes in two versions – one for organised retail chains and another for standalone vendors. By logging into the vendor app, the business representative will be able to see a comprehensive picture of his performance on PepperTap.
The minute month on month, week on week and day on day updates will enable him to understand the value of a well- stocked store by seeing the incremental loss in sales in the absence of a particular product(s). A vendor can also get insight into the top 100 best-selling products from his store across categories.
This assists business intelligence and empowers him/her to take smart stock-based decisions helping to boost the overall vendor productivity in the future.
For the users, PepperTap has introduced a Live Chat feature in the app, where users can interact with the support staff and get their queries answered in a jiffy. This feature eliminates the need to wait for the customer care to answer the phone or for the field executive to turn up with deliveries to seek clarifications.