Bangalore: India’s auto rickshaw hailing company, Jugnoo raises $5million in Series A round of funding led by Snow Leopard Ventures and Paytm – a mobile commerce firm. The funding round was also participated by several investors from its angel round. Previously, the startup had also raised $1 million in its seed round of funding from Rajesh Mathur – Junglee Flywheel, Vikas Taneja – Partner and MD BCG Group and Kirloskar Brothers and many more.
The company expects to deploy the funds to improve its technology platform and expand its reach. Launching in one new city every month, the app currently operates in four cities including Chandigarh, Ludhiana, Amritsar, Jaipur, the firm next aims is to expand in Gurgaon.
Founded in 2014 by Samar Singla, Jugnoo is an on-demand online platform providing affordable auto-rickshaw rides, freshly cooked homemade food and same-day free home delivery for anything. Chandigarh-based startup, Jugnoo today stands as the first hyper-local marketplace of India providing various products and services to the people of Chandigarh Tricity, Ludhiana, Jaipur, and Amritsar. Currently, tied up with rickshaw drivers as logistics partners to offer three verticals; Jugnoo Autos, Jugnoo Meals, and Jugnoo Fatafat, the firm plans of expanding its area of services in the upcoming year.
Speaking about the company, Samar Singla, Founder, Jugnoo says, “While several other companies offer auto rickshaw hailing for transport purposes, such as Uber, Ola, mGaadi, and PoochO, Jugnoo hopes to stand out by combining transit and on-demand delivery under one business model. It also claims to have over 150,000 users and handles about 3,000 transactions each day, making about $4,000 in daily revenue”.