[caption id="attachment_105380" align="aligncenter" width="703"]StreetJumper's Team StreetJumper's Team[/caption]

Jaipur based on-demand hyperlocal delivery service app, Street Jumper, that was founded in November 2014 by Tarin Poddar has been acquired by a Mumbai based entrepreneur, Sandiip Modi for an undisclosed amount in an all cash deal. The deal details were not disclosed. Sandiip Modi is a serial entrepreneur and an angel investor who has invested in several early stage ventures across the country. Tarin Poddar, the founder of Street Jumper has successfully exited the company post the acquisition. This was Tarin’s first startup after completing his studies from NMIMS, Mumbai and Harvard University.

Street Jumper enables users to get their things moved from one place to another. The mobile app connects users to a delivery boy, which the company likes to call “Jumper”, who offers personalised delivery service. The users can use it for the delivery of food, documents, flowers, medicines etc. Its mobile app is currently available on Android and iOS platform.

Street Jumper was processing close to 250 orders per day in Jaipur at the time of acquisition, the only city in which it operates. Street Jumper until now was a completely bootstrapped startup but were in discussion with several Venture capital funds for a series A round funding.

Street Jumper follows the usual background check norms as well. Each delivery guy from the company goes through a very thorough screening and background check, as well as a training process to ensure user’s belongings are safe and secure.

The hyperlocal space has attracted a huge amount of funding in the last 18 months, with more than 250 million dollars already raised. According to Assocham-PwC report, about 40 million customers purchased goods online in 2015 and the number is expected to go to 65 million this year. Street Jumper with this acquisition should expand its base to other cities.

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