An online grocery delivery services firm, PepperTap, has raised USD 10 million from venture capital funds SAIF Partners and Sequoia Capital in a move to expand.Earlier, PepperTap had raised USD 2 million in early stage funding.Currently, the eCommerce startup is delivering groceries from its partner stores in Gurgaon, Delhi and Noida.
The plan is to use the funding for building a highly-skilled team and for expanding the reach of PepperTap to 12 cities in India by the end of the year."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 said in a statement to PTI.PepperTap has identified Mumbai, Pune, Bengaluru and Hyderabad for the first phase of expansion. The remaining cities will be considered in the second phase expected to happen in July-August.
Presently, PepperTap has 100 employees on its rolls, which it will expand to 500 by August, Singh said.PepperTap was launched in 2014. It offers groceries and daily-need products through its partner stores offering 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.