Bangalore: Bangalore based online retailer, Zopnow is in the final stages to clinch Series A round of fundings from Accel Partners, Qualcomm Ventures and Bennet Coleman & Co. Though the financial terms of the deal were undisclosed, the company is said to be working towards developing a mobile technology focusing on the surge in mobile internet adoption in India, reported AltAssets.

Zopnow is an online hypermarket that sells a range of goods including groceries, stationery and health and wellness products. As reported by the source, the store would be using the funds to improve logistics and last-mile delivery, increasing inventories and expanding bandwidth.

“Though the exact quantum of investment is still unknown, we could make some calculated guesses based on the past records of the venture capital firms. Accel Partners typically invest along with other VC firms and the same ranges from $ 1 to 6 Million in the early stages of incubation. However, it has known to pledge some serious money too for veterans. Qualcomm Ventures, the VC arm of chip maker Qualcomm has taken a lot of time to re-invest in India. Sources close to the deal speculate the amount to be between $ 1 to 3 Million,” said Watblog, estimating the amount of funding that could have gone into Zopnow’s ventures.

The retail website promises a 3 hour delivery window and allows the customers to choose the time of delivery as per their convenience. Zopnow already provides purchasing options through web and phone and is soon to allow users to acess the site and purchase goods using dedicated applications on Smartphones and Tablets.