Hyperlocal delivery and auto rickshaw aggregator Jugnoo has raised $10 million in series B funding led by Paytm. Existing investor Snow Leopard and new investor Rocketship.vc also participated in the Series B round. Jugnoo plans to utilize the new funds in bettering driver efficiency and growing its base within its existing cities of operation.
The company had previously raised an undisclosed amount of funding from Paytm in November 2015. At that time Paytm had picked a 20% stake in the startup. In June 2015, Jugnoo raised $5 million in a series A round of funding from Snow Leopard with participation from Paytm. It had also raised $1 million from Rajesh Mathur (Junglee Flywheel), Vikas Taneja (Partner and MD BCG Group) and Kirloskar Brothers among others, in a seed round of funding.
What Jugnoo does
Jugnoo has tie ups with rickshaw drivers as logistics partners to offer three different services including Jugnoo Autos on Demand, Jugnoo Meals and Jugnoo Fatafat. Interestingly, the company mentions that it does not make money on auto rides, rather auto rides get it a logistics network and customer base, while hyperlocal deliveries make it money. At present, the company claims to have operations in 30 cities and 11 villages across the country.
The Jugnoo Autos on Demand app detects a user’s location, post which the user can request a rickshaw. Users can then track the rickshaw status on the map or call the driver directly to clarify issues. The app charges users Rs 20 as minimum charge, Rs 5/km and Rs 1/min for fare, with 50% higher rates for night times.
Note that Jugnoo also offers a Fatafat Merchant app, that lets merchants track orders coming their way. This seems to imply that users might not be able to order from any store, but only from those that the company has a tie-up with, similar to Grofers. Other than this, the platform offers a Jugnoo Drivers app which lets rickshaw drivers find their next assignment.
The company had previously raised an undisclosed amount of funding from Paytm in November 2015. At that time Paytm had picked a 20% stake in the startup. In June 2015, Jugnoo raised $5 million in a series A round of funding from Snow Leopard with participation from Paytm. It had also raised $1 million from Rajesh Mathur (Junglee Flywheel), Vikas Taneja (Partner and MD BCG Group) and Kirloskar Brothers among others, in a seed round of funding.
What Jugnoo does
Jugnoo has tie ups with rickshaw drivers as logistics partners to offer three different services including Jugnoo Autos on Demand, Jugnoo Meals and Jugnoo Fatafat. Interestingly, the company mentions that it does not make money on auto rides, rather auto rides get it a logistics network and customer base, while hyperlocal deliveries make it money. At present, the company claims to have operations in 30 cities and 11 villages across the country.
The Jugnoo Autos on Demand app detects a user’s location, post which the user can request a rickshaw. Users can then track the rickshaw status on the map or call the driver directly to clarify issues. The app charges users Rs 20 as minimum charge, Rs 5/km and Rs 1/min for fare, with 50% higher rates for night times.
Note that Jugnoo also offers a Fatafat Merchant app, that lets merchants track orders coming their way. This seems to imply that users might not be able to order from any store, but only from those that the company has a tie-up with, similar to Grofers. Other than this, the platform offers a Jugnoo Drivers app which lets rickshaw drivers find their next assignment.
