India’s leading hyperlocal startup, Jugnoo offers a diverse range of services like Rides, Ready to Eat Meals, Restaurant Food Delivery, Grocery and Business to Business Delivery. The startup has become the first company in on-demand space to become profitable on an EBITDA basis. This is a moment of joy for Jugnoo at a time when other players from the industry are investing huge amount without being able to get sufficient returns.
The total revenue noted for last quarter was ₹11.5 Crores which has gradually grown by 15% and for the first quarter of this financial year, Jugnoo is all set to generate more than ₹13.5 Crores.
Samar Singla, Founder and CEO at Jugnoo mentioned that “We have always believed in the significance of developing a scalable but sustainable business model. This achievement means a lot to us as it reaffirms our faith. We have witnessed 250% growth over the past one year and are on track to achieve net revenue of ₹70 Crores in current financial year.”
Apart from this, Jugnoo has raised ₹100 Crore ($16 million) in two rounds of funding within last two years.