Ratan Tata Backs Bengaluru-Based Retail Technology Startup SnapBizz

Bengaluru-based retail technology start-up SnapBizz on Sunday said it has raised an undisclosed round of funding from veteran industrialist Ratan Tata.

This is Mr Tata’s eighth investment in start-ups in 2016 so far.

In January 2016, SnapBizz had announced a Series A funding of $7.2 million led by Jungle Ventures, Taurus Value creation, Konly Venture and Blume Ventures.

With the mission of transforming the unorganised fragmented retail sector in the country, SnapBizz currently 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 SnapBizzis 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 SnapBizz founder and chief executive officer.

The former Tata Group chairman has invested in over 20 start-ups so far.

SnapBizz solutions enable smart store management and a digital connection to consumers, FMCG companies and distributors. SnapBizz was founded in 2013.

[ Also Read – Common traits of successful entrepreneurs ]

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