Ratan Tata invests in retail startup SnapBizz

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

“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,” SnapBizz founder and chief executive officer Prem Kumar said in a statement.

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.