Semiconductor maker Qualcomm and media company Times Internet have participated in a $10m series A round raised by India-based grocery delivery app ZopNow, the Economic Times reported today.
Dragoneer Investment Group led the round, which also featured Accel Partners and reportedly valued ZopNow at about $50m. Qualcomm invested via its corporate venturing subsidiary, Qualcomm Ventures.
Founded in 2011, ZopNow enables consumers to shop for groceries online and delivers them free-of-charge within three hours. It previously received $2m in seed funding from Qualcomm Ventures, Timees Internet and Accel in 2012.
ZopNow currently operates in four cities across India, but will use most of the new funding to expand to a further 15, while a portion will go to increasing staff and continue development of its technology.