Bangalore based Snapbizz announced that it has recently raised an undisclosed amount from Ratan Tata, Chairman Emeritus, Tata Sons. This is the second fund-raise by the Indian retail tech startup this year, after it had raised $7.2 million led by Jungle Ventures, Taurus Value creation, Konly Venture and Blume Ventures earlier in January.
Snapbizz, started in 2013, has developed a platform to help small retail stores with getting online. With the smart-store management technology, Snapbizz helps small retailers, FMCG brands and consumers by creating a digital connection. The startup currently boasts of working with over 1000 stores and the number is set to increase with the funding round.
Prem Kumar, founder of SnapBizz was very excited with the fact that their startup has the backing of Ratan Tata. Speaking to media, he added that it’s a proud thing for the team and startup. We will continue to digitise the kirana stores in India and hopefully we will accelerate the process even at a better rate in the time to come.