Jugnoo acquires SubKuchFresh to strengthen hyper-local delivery services
1 min read 01 Jun 2016, 09:05 PM ISTJugnoo CEO says the move is a step towards helping auto drivers to supplement their livelihood through extra earnings
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Mumbai: On-demand auto-rickshaw aggregator Jugnoo has acquired SubKuchFresh for an undisclosed amount to strengthen its recently launched grocery delivery service ‘Fatafat’.
The acquisition comes after Chandigarh-based Jugnoo raised $10 million in Series B funding from mobile payments and commerce platform Paytm (One97 Communications Pvt. Ltd), Snow Leopard and Rocketship.vc in April.
“This is a step towards helping the auto drivers to supplement their livelihood through extra earnings. Jugnoo also intends to create a logistics network for the mass market of India and wants to tap the hyper-local delivery service space through best possible routes," says Samar Singla, chief executive officer of Jugnoo.
SabKuchFresh, an online store of fruits and vegetables has a tie-up with more than 100 farmers has a strong network of B2B and B2C users.
A separate team has been hired to look into the operations of this new acquisition that will help Jugnoo to offer a more comprehensive grocery delivery service with improved procedures of procurement, sorting, packaging and quality check of product.
Owned and operated by SoCoMo Technologies Pvt. Ltd, Jugnoo was founded by Samar Singla and Chinmay Aggarwal. It was launched in November 2014 and its auto-rickshaw aggregation service is now present in 29 cities and has a user base of 120 million.
Jugnoo operates three apps, the autorickshaw aggregation service Jugnoo Autos, food delivery service Jugnoo Meals and hyperlocal delivery service Jugnoo Fatafat. The company is looking to strengthen its businesses. Jugnoo had earlier acquired online taxi booking platform BookMyCab in a cash and stock deal in July last year.
The company raised $5 million in Series A funding from Snow Leopard Technology Ventures and Paytm in July last year, $5.5 million in a series B 1 round in January this year.
