[Case Study] Jugnoo Funding and Business Model

Jugnoo whizsky

About Jugnoo:

Jugnoo is a one stop shop for all your local needs. Jugnoo began as India’s first auto-rickshaw aggregator with the objective of making daily commute easy and reliable. Jugnoo now provides a wide range of local services on-demand – Auto-Rides, Groceries, Food Delivery, Meals, Logistics and even a location-based local social network.


Jugnoo Founders:

Founded in November 2014 by a couple of IITians named Samad Singla and Chinmay Agarwal. Both Samad and Chinmay are IIT-Delhi alumnus and worked in several multi-national corporations before starting Jugnoo.

jugnoo founders

The Idea of Jugnoo

For a common Indian, the auto-rickshaw serves the same purpose as a taxi. It is cheap and convenient, and most people use it to commute. The potential of this relatively untapped market sparked Singla’s interest and, in November 2014, he founded Jugnoo along with Chinmay Agarwal, 28, also an IIT Delhi alumnus.

Initial Challenges:

Initially, the challenge was to convince auto rickshaw drivers to make use of smartphones to their advantage and join Jugnoo.  It took a lot of convincing and training to get auto drivers comfortable with Jugnoo’s platform. The stress on induction and training continues, even as hastening the process of adding drivers and training them continues to be this startup’s foremost challenge.

Jugnoo Fundings:

Jugnoo has raised around 16 million dollars of funding in two rounds from 5 investors.

The company started with seed funding of 1 million Dollars from investors like Rakesh MathurChris KolenatyVikas Taneja.

Series A: Series A round of funding held in June 2015 and company raised 5 million dollars in this round from investors like PaytmSnow Leopard Technology Ventures.

Series B: In April 2016, Jugnoo abled to raise 10 million Dollars from existing investors Snow Leopard Technology Ventures and two new investors rocketship.vcKunal Bahl.

Jugnoo Business Model:

Jugnoo has ventured into different verticals of on-demand and hyperlocal space in B2B & B2C domains, with its services like Rides, Fatafat, Meals, Menus, Asklocal and Jugnoo Delivery (B2B).

Jugnoo Acquisitions:

In September 2015, Jugnoo acquired an online platfrom Yelo which is a real-time local platform that enables individuals to ask questions and get advice from their personal social communities.

In June 2016, company acquired Chandigarh based Food and Beverage Retail company named SabKuchFresh. It is an online store of fresh fruits and vegetables in Chandigarh.

Jugnoo Story So Far:

Founded in November 2014 by a handful of IITians, Jugnoo is India’s largest technology driven on-demand auto rickshaw aggregator, which connects riders with safe, reliable, convenient auto rickshaw just in few clicks across 40+ cities in India. Jugnoo comes at a time when people need it the most. Started by a small group of individuals with a vision to embark on the hyperlocal marketplace, Jugnoo has grown to more than a 300 team strength. With a fleet of 15,000+ auto rickshaws, Jugnoo aims to achieve optimum utilisation of the available resources while making transportation easy, efficient, cheaper and convenient.




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