On Tuesday, Snapdeal said that it has picked up minority stake in hyper-local grocery delivery service, PepperTap, leading a USD 36 million funding round.
PepperTap Co-Founder and CEO Navneet Singh said that the funds will be used for expanding PepperTap’s presence to 75 cities from the present 18 cities, customer and talent acquisition.
Snapdeal CEO Kunal Bahl said, “We have worked with Navneet and his team that also runs a logistics firm (Nuvo Logistics). Grocery is about 59 percent of retail GDP in India and we are excited to be entering into a strategic partnership with PepperTap to tap this market.”
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