SnapBizz, which provides Android-based technology solution to retailers, has raised an undisclosed funding from Ratan Tata.
Only last month SnapBizz had raised $7.2 million in a funding led by Jungle Ventures, Taurus Value creation, Konly Venture and Blume Ventures. This funding is expected to help the company further its growth and increase its geographical footprint.
SnapBizz provides Android-based technology solution to retailers. The solution comprises a tablet, barcode scanner, printer and a consumer-facing LED display for consumer engagement.
The Bengaluru-based startup was founded in 2013 and aims to transforming the unorganised fragmented retail sector in the country, Currently, SnapBizz works with over a thousand ‘kirana’ stores across Mumbai, Pune, Delhi, Hyderabad, Chennai and Bangalore and aims to expand its footprint across other Tier 1 and 2 cities.
“A visionary of Mr Tata’s stature showing confidence in SnapBizz is certainly a big boost for our business idea and will continue to accelerate the digital revolution in India’s kirana stores. Brands are also seeing this as an opportunity to partner with us in order to be a well-wisher of the retailers,” said Prem Kumar, Founder and CEO, SnapBizz.
This is Ratan Tata’s eighth investment in start-ups in 2016 so far.