PepperTap raises $40 million in Series B funding

Online grocery portal PepperTap said on Monday it has closed its Series B round of funding, with an additional $4 millon from Innoven Capital, in addition to the $36 million raised recently from SnapDeal, Sequoia India, SAIF Partners, Ru-Net, Beenext & JAFCO Asia.

The total fund raised in PepperTap now stands at around $51.2 million, a company statement said.

The company has taken over Bengaluru-based hyperlocal grocery delivery startup, Jiffstore for an undisclosed amount. Jiffstore's team will join PepperTap's Gurgaon and Bengaluru offices.

PepperTap has also entered into marketing tie-ups with other start-ups who will collaborate with them in a cross-marketing activity to bring attractive gifts for the users.