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After Raising $40mn, PepperTap Shuts Down Grocery Business; Goes Back To Logistics

PepperTap, owned by Nuvo Logistics (which also runs Nuvo Ex, the logistics arm) reported a total revenue of INR 19.5 crores in FY 14-15 with a net profit of INR 87 lacs. The revenues largely come from its logistics arm and the company (after experimenting with grocery) is going back to its roots.

Tech

#IndianStartupData : Nuvo Logistics (PepperTap) Made A Profit Of INR 87 lac With A Revenue of INR 19.6cr in FY 14-15

This was only their second year of operation. In FY 13-14, the company had registered a total revenue of INR 61 lacs with net loss of 41 lacs.

PepperTap Acquires Jiffstore; Raises $4mn More To Close Its $40mn Series B

In addition to the $36 million raised recently, PepperTap has closed its Series B round of funding; with an additional $4 millon. Peppertap has taken over hyperlocal grocery delivery startup, Jiffstore. Its also launching a Partners App for organised retail chains and another for standalone vendors.

Some Startups Are Celebrating Diwali With Unique Initiatives [Roundup]

Between November 9 and 15, PepperTap will offer a chance to its customers to associate with its Diwali campaign and allow customers to donate clothes, stationery and toys. Roadrunnr, a hyperlocal logistics company will distribute plantable bookmarks with the deliveries they make on November 11th and 12th.

PepperTap Brings Number Disguising and Order Modification Features On Its App

The Number Masking feature on its backend application ensures that phone numbers of its end customers remain undisclosed to its delivery boys. The Order Modification feature enables customers to change their current order, add more products or remove them while it is in the order receipt stage.

PepperTap Raises $36 mn In Series B From Snapdeal, Sequoia, SAIF and Others

The funding also saw participation from new investors like Ru-net, JAFCO, and BeeNext. Additionally, PepperTap is in advance talks to expand this round by another USD 20 million from other financial investors. This second close is expected to happen in the next few weeks.