Jugnoo, a Chandigarh, India-based on-demand auto rickshaw aggregator, secured $5.5m in Series B funding.
The round was led by Paytm with participation from Snow Leopard Ventures.
The company intends to use the funds to expand in India, open new offices, improve supply quality, incentives and rewards targeted towards driver welfare and performance improvement, scale up marketing and advertising campaigns.
Founded by Samar Singla and Chinmay Agarwal, Jugnoo is a mobile app acting as an on demand auto rickshaw aggregator. The company has services in 22 cities with 2 million users and 30,000 transactions per day.
The company targets students, working professionals, and masses that are dependent on public transport for their daily conveyance.