Ratan Tata Invests in Bengaluru based Retail-Tech Startup SnapBizz
BENGALURU: The Indian Businessman, philanthropist and chairman Emeritus of Tata Sons, Ratan Tata has invested in retail-tech start up SnapBizz Cloudtech. SnapBizz devises technology for corner grocery stores and works with more than one thousand kirana stores across Mumbai, Pune, Delhi, Hyderabad, Chennai and Bengaluru.
The company received a funding of $1.3 million from Qualcomm, Jungle Ventures and others in 2013. Tata, as one of the most respected names in corporate India, brings a rich legacy of doing business with a human touch, said Prem Kumar, Chief Executive of SnapBizz. “This reflects in his investment in SnapBizz as we have begun a humble journey to reverse the marginalization of SMBs and driving digital inclusion in the large consumer goods industry.”
A funding of $7.2 million led by Jungle Ventures, Taurus Value Creation, Kony Venture and Blume ventures to expand to smaller cities—was announced by the Bengaluru-based company last month. SnapBizz offers grocery stores an Android-based cloud-connected business platform in the form of a tablet, bar code scanner, printer and a consumer-facing LED display, with the technology enabling merchants to manage their billing, inventory, and customer engagement.
Moreover, in the past two years, Tata has made over 25 investments in startups
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