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Bangalore based JiffStore secures fund from Unitus Seed Fund and TLABS

Tags: Jiffstore, grocery, Times Internet Limited, Unitus Seed Fund, startups

June 18, 2015 | COMMENTS ( 0 )

Bangalore based JiffStore secures fund from Unitus Seed Fund and TLABS

Jiffstore, a mobile first hyper-local grocery delivery marketplace, has raised an undisclosed amount of follow-on capital from Times Internet Limited (TLABS) and Unitus Seed Fund, India’s leading venture seed fund supporting startups innovating for the masses.

JiffStore is among the first m-commerce platforms that enable shoppers to buy from their local grocery stores, on demand. Founded in August of 2013 and based in Bangalore, Jiffstore is available in over 120 locations in Bangalore.

Jiffstore has managed to achieve over 200 transactions per day through its asset light solution model and smart engineering. Armed with the additional funds Jiffstore, plans to expand the company’s network of stores. 

Funds will also be used to promote the firm’s services across various marketing channels, expand the team and improve the technology platform to provide superior customer experience. JiffStore is expanding its operations to other tier I cities Mumbai, Hyderabad and Delhi.

“Jiffstore has delighted shoppers by making mundane and routine grocery shopping extremely convenient and on-demand,” said Shameel Abdulla, CEO and Co-Founder of JiffStore. “We aim to take this experience pan India in a rapid pace.”

“We are excited about the prospects of India’s food-tech industry and are confident that Jiffstore has a strong platform to capitalize on the opportunity,” said Will Poole, Managing Partner, Unitus Seed Fund. “Jiffstore’s team has demonstrated significant customer traction and we are keen to provide requisite strategic and financial resources to help them catapult to the next phase of growth.”

“Jiffstore started in the hyperlocal grocery delivery before the rush started, they understand both side of consumer and retailers better than most of the competition, they have the best technology platform to fulfill the orders within 90 minutes. Jiffstore is one of the better team and we would love to support them to build a successful business,” said Abhishek Gupta, Head TLABS (Times Internet Ltd.).

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