Chandigarh, June 11, 2015: Jugnoo a pioneering hyperlocal market place that provides everything on –demand using auto rickshaws, has received Series A funding from Snow Leopard and PayTM.
Chandigarh-based Jugnoo, founded and led by Samar Singla, an alumnus of IIT Delhi, aims to consolidate the day-to-day needs of its consumers under one head. Nesting under one umbrella, the three Jugnoo apps – Jugnoo Autos, Jugnoo Meals and JugnooFatafat provide consumers with a solution to everything from travel to meals to household commodities on a daily basis. Currently operating out of Chandigarh and serving the Chandigarh tri-city area as well as Ludhiana and Amritsar in Punjab, the app has recently expanded to Jaipur as well. With plans of rapid expansion, Jugnoo foresees presence in over 15 cities across the country by the end of 2015.
Speaking from his office in Chandigarh, Samar Singla, Founder and CEO, Jugnoo.in said; “I am very glad to have Snow Leopard and PayTM on board for our Series A funding. Their vast experience in building successful consumer initiatives will help Jugnoo in its next phase of growth.”
Says Chris Kolenaty, Founder, Snow Leopard Ventures;“Samar and his team’s vision for an on-demand India are supported by their strength on the product side, with the ability to see the roadmap at the high level as well as at the nitty gritty. What strengthens it even further is their ability to be strongly rooted in data analytics – decisions and actions are taken based on minute tweaks in variables and understanding of their impact to create a strong customer experience.”
Adding to Chris Kolenaty, Samar Singla says;“Jugnoo was a dream that started from a small one room office in Chandigarh and took off rapidly. Today’s consumer wants the luxury of having everything delivered to them at home. With the e-commerce boom, it only makes sense to extend the services from fashion to household commodities, and we felt the best way to go about this was the involvement of auto rickshaws – service millions of people across the country depend on. Today, Jugnoo is serving over 150k people across four cities, and we plan to expand services to every city and town possible over the next five years.”
With operations just a little over 6 months, the brand experiences over a whopping 50% repeat purchases every month,Jugnoo has been growing 20% week on week and is aiming at online sales of INR 1000 crore in the next 4-5 years.
The second round of funding will be used for enhancing the Tech capabilities and launching to more cities in India and internationally.
Jugnoo, operates on a similar pattern to that of Ola in so far as auto rickshaw services are concerned. The brand differentiators lie with the Jugnoo Meals and Jugnoo Fatafat, where Meals provide consumers with home cooked food for all three meals – breakfast, lunch and dinner – and Fatafat is their hyperlocal marketplace providing daily household and personal use products ranging from farm fresh veggies, fruits, dairy products, cakes, flowers etc.