Jugnoo announced that it had closed a $3 million series B funding with investment from Paytm and Kunal Shah of Freecharge. The funds raised will be invested in expansion plans and to streamline processes in new cities. “We are certain that we are one of the fastest growing companies in our category, and we plan to use this funding to invest even more heavily to further accelerate our growth,” said Samar Singla, Founder and CEO, Jugnoo. The auto rickshaw aggregator claims to have over 3,000 vehicles in its database.
Paytm had previously invested $10 million in Loginext, hyperlocal deal marketplace Little and NDTV’s Gadget 360. This is not Paytm’s first publicized investment. It had previously invested $10 million in Loginext, hyperlocal deal marketplace Little and NDTV’s Gadget 360.
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