Unitus backs India mobile e-commerce site Jiffstore
Unitus Seed Fund has invested in Jiffstore, an Indian mobile e-commerce company. Financial details of the deal were not disclosed.
Based in Bangalore, Jiffstore allows customers to connect to local kirani stores - small neighborhood grocery shops - via a mobile app that offers online ordering and home delivery. The app is available on both the i0S and Android operating systems.
According to a release, the business helps even the smallest stores increase sales by providing a mobile order management platform. Currently, the platform us available at 25 locations in Bangalore. This new injection of capital will be used to develop the Jiffstore technology platform and expand its customer base.
This is Unitus's third mobile e-commerce investment so far this year. It previously invested mGaadi, a mobile service for ordering auto rickshaws, and Medypal, an online market place for health services.
More on Technology
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.