Industry News

PepperTap acquires Jiffstore, a grocery delivery start-up

 PepperTap, an on-demand grocery service has closed the acquisition of a Bangalore based grocery delivery start-up, Jiffstore, in a cash and stock deal. The details of the deal are not yet disclosed.

Jiffstore will completely merge its operations with PepperTap along with the 40-member team.

PepperTap has also closed a funding of an additional $4 Million from a Private Equity Firm, Innoven Capital, an Indian lending arm of Temasek Holdings.

The online grocery delivery giant is also hoping to raise around $11 Million by the end of next month. The start had recently closed a funding worth $36 Million from Snapdeal, Sequoia India, SAIF Partners, Ru-Net, Beenext and JAFCO Asia.

Peppertap is in process of launching an app for standalone vendors which will soon go live on google play store and has already launched an app for organized retail stores.

According to Techsci Research, current online grocery sales contribute to 1% of the total grocery sales but is growing at a fast pace as more and more people are adapting e-commerce channel to buy fruits, vegetables, etc. Both PepperTap and Jiffstore operates in the same space but Jiffstore was only operational in Bengaluru while PepperTap is country-wide. This would be beneficial for both the parties as Jiffstore has always been strong on the technical side and had tie-ups with 100+ stores which would be a big value add to PepperTap. Moreover, the company is aiming to use synergies with Jiffstore to improve customer experience and strengthening its presence.