SnapBizz, a retail solutions tech company, has raised Series A funding worth $7.2 million led by Jungle Ventures, Taurus Value Creation, Konly Venture and Blume Ventures, reports ET. It will use the funds for geographical expansion. SnapBizz had previously raised seed funding of $1.7 million from Qualcomm, Jungle Ventures, National Research Foundation of Singapore, Taurus Value creation and Blume Ventures.
Startup Name : SnapBizz
Funding Amount : $7.2M (Rs.48cr)
Investors : Jungle Ventures, Taurus Value creation, Konly Venture, Blume Ventures
Funding Round : Series A
Startup Type: Retail Technology
The startup is operational in Mumbai, Pune, New Delhi, Bangalore and Hyderabad. The company, which was previously Bangalore-based, was founded by Prem Kumar and Yashwant Prakash. It provides an Android based cloud solution on a tablet to retailers, along with a barcode scanner, thermal printer and consumer facing LED screen. This is targeted at traditional retail outlets in cities like Mumbai, Pune, Delhi, Bangalore and Hyderabad. It aims to address the problems of small and medium kirana stores, specifically, while also letting brands to engage stores and consumers in real time, in the store as well as outside it.
SnapBizz is a custom developed mobile solution hosted on a secure cloud platform using the latest technologies. The intellectual property is protected by various patents filed.