Jugnoo, a Chandigarh-based online auto-rickshaw aggregator, has raised $5.5 million in Series-B round of funding led by Paytm with participation from Snow Leopard Technology Ventures. Jugnoo had raised $3 million in the first tranche of this round, adding $2.5 million in the second tranche, making it a total of $5.5 million for the Series-B round.
According to the company the funds will enable Jugnoo to expand pan-India, launch new offices, improve supply quality, incentives and rewards targeted towards driver welfare and performance improvement, scaling up marketing and advertising campaigns.
“The plan is to expand nationwide. We are in 22 cities now and the plan is to get to around 100 cities – expansion is going to be our prime focus right now,” Samar Singla, founder and CEO of Jugnoo told FE.