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Jiffstore raises follow-on capital from TLABS and Unitus Seed Fund

Firm enables shoppers to buy from their local grocery stores through their mobile phones

BS Reporter  |  New Delhi 

Bangalore based online grocery marketplace Jiffstore has has raised an undisclosed amount of follow-on capital from Times Internet Limited (TLABS) and Unitus Seed Fund. The firm enables shoppers to buy from their local grocery stores through their mobile phones.

"We are excited about the prospects of India's food-tech industry and are confident that Jiffstore has a strong platform to capitalize on the opportunity," said Will Poole, Managing Partner, Unitus Seed Fund. "Jiffstore's team has demonstrated significant customer traction and we are keen to provide requisite strategic and financial resources to help them catapult to the next phase of growth," added Poole.

JiffStore leverages the existing grocery store network across Bangalore.

The eighteen months old company claims to be clocking 6,000 transactions a month and 200 transactions a month. The firm will use the funds to expand its operations into Mumbai, Hyderabad and Delhi along with increasing its network of stores and marketing.

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"Jiffstore started in the hyperlocal grocery delivery before the rush started, they understand both side of consumer and retailers better than most of the competition, they have the best technology platform to fulfill the orders within 90 minutes. Jiffstore is one of the better team and we would love to support them to build a successful business," said Abhishek Gupta, Head TLABS (Times Internet Ltd.).

Jiffstore has made mundane and routine grocery shopping extremely convenient and on-demand, said Shameel Abdulla, CEO and Co-Founder of JiffStore. "We aim to take this experience pan India in a rapid pace," he added.

First Published: Wed, June 17 2015. 19:04 IST