In a unusual venture, SnapBizz Cloudtech, which devises technology for grocery stores, has raised an undisclosed amount of funding from Ratan Tata.
SnapBizz provides grocery stores an Android-based, cloud-connected business platform in the form of a tablet, barcode scanner, printer and a consumer-facing LED display, and the technology enables merchants to manage their billing, inventory and customer engagement.
SnapBizz had earlier raised $7.2 million in an investment round led by venture capital firms Jungle Ventures, Taurus Value Creation, Konly Venture and Blume Ventures in January.
The Bengaluru-based company, which started in 2013, had earlier received seed funding of $1.7 million from Qualcomm, Jungle Ventures, National Research Foundation of Singapore, Taurus Value Creation and Blume Ventures.
SnapBizz is one of a small but growing number of start-ups like IPay Tech India Pvt. and StoreKing that aim to help small businesses like grocery stores to bridge the digital gap by targeting specific uses like payments or enabling e-commerce.
“We are privileged to have Mr. Tata as an investor at SnapBizz. As one of the most respected names in corporate India, Mr. Tata brings a rich legacy of doing business with a human touch,” said Prem Kumar, chief executive officer, Snapbizz, in a statement.
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