Jugnoo closes $3-mn Series B funding led by Paytm

By: | Published: November 18, 2015 12:26 AM

Jugnoo, a Chandigarh based auto aggregator and hyperlocal delivery startup, announced closure of a $3million Series ‘B’ funding led by Paytm...

Jugnoo, a Chandigarh based auto aggregator and hyperlocal delivery startup, announced closure of  a $3million Series ‘B’ funding led by Paytm with participation from others such Kunal Shah from Freecharge.

The fund raised will aid its pan-India expansion plans and will be used to streamline processes in new cities. Prior to this, Jugnoo managed to raise $1 million from  Rajesh Mathur( Junglee Flywheel), Vikas Taneja (Partner and MD BCG Group) and Kirloskar Brothers during seed round funding.

Earlier this year the company raised $5 million in a Series A round of funding from Snow Leopard with participation from Paytm. “We look at this funding as a vote of confidence in Jugnoo and its vision of how companies can accelerate revenue growth. To have an existing investor come back and invest again, that too in a lead capacity this time, is just a promising sign telling us that we must be doing something right,” said Samar Singla, founder.

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