B2B marketplace Jumbotail has raised Rs 75 crore from Alteria Capital and Innoven Capital in a venture debt round.
Jumbotail plans to invest funds in building deep sourcing capabilities and AI driven technologies to drive higher customer wallet share and grow their net revenues by 100%, and achieve operational profitability in the next 12 months. The company targets to expand its current retailer base of over 250,000 retailers across 50 cities to about 400,000 retailers, and reach over 80% of penetration of the addressable market in the next 12 months.
Founded by S.Karthik Venkateswaran, and Ashish Jhina, Jumbotail offers a complete suite of go-to-market services for brands looking to reach the kirana market to shape both retailer demand and consumer demand. Currently with nearly 60% of penetration of the addressable market of kirana stores in the 50 cities it is operating, 100% of Jumbotail’s sales is generated by unassisted digital orders placed organically by kirana stores across the country via Jumbotail b2b digital retailer app.
Jumbotail’s New Retail platform provides complete business-in-the-box solutions including but not limited to J24 brand, consumer demand generation, in-store technologies, J24 app for consumers, integrated supply chain, and working capital support, to kirana entrepreneurs to transform their stores to J24 branded omni-channel modern convenience stores. J24 stores are targeted to serve the daily grocery needs of urban middle class young families.
Bengaluru-based Jumbotail has raised a total of $125 million in equity from investors including Invus, Heron Rock, VII Ventures, Nutresa, Veronorte, Nexus Ventures, Kalaari Capital, Jumbo Fund, Arkam Ventures, and ~$14M in Venture Debt from leading venture debt firms Alteria Capital and Innoven Capital.