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Jugnoo raises series B funding from Paytm

jugnoo

Jugnoo, a hyperlocal delivery and auto rickshaw hailing app, has raised an undisclosed amount in a series B round of funding from Paytm. The startup will use the funding for expanding to other metros in the coming months. With this funding, Paytm will own 20% stake in the startup. According to the Times of India, which first reported the story, the company raised $10 million, although Jugnoo or Paytm are yet to confirm this.

The company had previously raised $5 million in a series A round of funding from Snow Leopard with participation from Paytm in June. It had also raised $1 million from Rajesh Mathur (Junglee Flywheel), Vikas Taneja (Partner and MD BCG Group) and Kirloskar Brothers among others, in a seed round of funding.

Jugnoo ties up with rickshaw drivers as logistics partners to offer three different services. This includes Jugnoo Autos on Demand, Jugnoo Meal and Jugnoo Fatafat. Interestingly, the company mentions that it does not make money on auto rides, rather auto rides get it a logistics network and customer base, while hyperlocal deliveries make it money. As of now, it claims to be present in 22 cities across the country and carries out 15,000 transactions per day.

– The Jugnoo Autos on Demand app (also on iOS) detects a user’s location, post which the user can request a rickshaw. Users can then track the rickshaw status on the map or call the driver directly to clarify issues. The app charges users Rs 20 meter down charges, Rs 5/km and Rs 1/min for fare, with 50% higher rates for night times. This service is currently available in Chandigarh Tricity, Ludhiana, Amritsar and Jaipur.

– The Jugnoo Meals app (iOS) lets users order meals which it claims to deliver within 30 minutes. The food is cooked by in-house chefs at Jugnoo and offers a daily rotating menu. The platform is open Monday to Sunday, from 8am-10am (breakfast), 12noon-3pm (lunch) and 7pm-9pm (dinner).

– The Jugnoo Fatafat app (iOS) is the most interesting app of the three. It lets users request deliver of any goods they need for stores around them. The app mentions users can order groceries, alcohol, ice-cream, flowers, gifts, medicines, food from restaurants, items from other shops. The company will deliver the item to the user and will deliver it for free on a minimum order of Rs 300. This service is currently available to users in Chandigarh Tricity, Ludhiana and Amritsar.

Note that Jugnoo also offers a Fatafat Merchant app, that lets merchants track orders coming their way. This seems to imply that users might not be able to order from any store, but only from those that the company has a tie-up with, similar to Grofers. Other than this the platform offers a Jugnoo Drivers app which lets rickshaw drivers find their next assignment. Founded in November 2014 the platform currently only offers its services on smartphones.

Image source : Jugnoo

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ