Global private equity and venture capital news and research

Online hypermarket ZopNow to clinch Accel, Qualcomm funding

6 Jul 2012

ZopNow Retail, a Bangalore-based company that runs online hypermarket ZopNow, is understood to be in the final stages of closing a Series A round of funding from Accel Partners, Qualcomm Ventures and media company Bennett Coleman & Co. reported the news, citing unnamed sources. Financial terms of the deal were not disclosed.

ZopNow, which sells a range of goods including groceries, stationery and health and wellness products, will reportedly use the funding to improve logistics and last-mile delivery, increasing inventories and expanding bandwidth, the report said.

The online store is also said to be working towards developing a mobile technology focusing on the surge in mobile internet adoption in India, the report added.

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