PepperTap closes Series B funding round with $40 million

NEW DELHI: PepperTap said it received $4 million from InnoVen Capital as part of a series B funding round which it now closed after raising $40 million (Rs 265 crore). The Gurgaon-based on-demand hyperlocal grocery delivery firm had earlier received $36 million in this round from investors including SnapDeal, Sequoia India, SAIF Partners, Ru-Net, Beenext and JAFCO Asia.

With this, PepperTap has so far raised about $51.2 million, according to a company news release.

Peppertap said it has taken over Bengaluru-based hyperlocal grocery delivery startup Jiffstore for an undisclosed amount. Jiffstore’s team will join PepperTap’s Gurgaon and Bengaluru offices.

PepperTap has also entered into marketing tie-ups with other startups to collaborate on cross-marketing activities to offer attractive gifts for the users.