Snapbizz raises USD 7.2 mn to spur growth

Snapbizz, a retail-technology firm, has raised USD 7.2 million in a funding led by Jungle Ventures, Taurus Value creation, Konly Venture and Blume Ventures.

"Large retail and online players account for only 10-15 per cent of any brand's business. The remaining 90 per cent happens through traditional trade. We are on a mission to address this big gap while addressing the pain points of the kirana stores," Snapbizz founder and CEO Prem Kumar said in a statement.

The funds raised will be used by the firm for growth and to spur market expansion across key cities, the statement said.

The company had earlier received a seed fund of USD 1.7 million from Qualcomm, Jungle Ventures, National Research Foundation of Singapore, Taurus Value creation and Blume Ventures.
 

Snapbizz provides Android-based technology solution to retailers. The solution comprises a tablet, barcode scanner, printer and a consumer-facing LED display for consumer engagement.