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Snapbizz said that it has raised USD 7.2 million (about 48 crore) from Jungle Ventures, Taurus Value Creation, Konly Venture and Blume Ventures.
Snapbizz said in a statement that the funds raised will be used to continue the firm’s growth and spur market expansion across key cities.
Prem Kumar, SnapBizz founder and CEO said that “All ecosystem players have shown confidence in our solution and that our existing investors have reiterated their support to us. Large retail and online players account for only 10-15 percent of any brand’s business. The remaining 90 percent happens through traditional trade and there is zero or minimal last mile connectivity between brands, consumers and retailers.”
