Alteria Capital and Innoven Capital led Rs 75 crore debt round secured by Jumbotail
In a venture debt round, Alteria Capital and Innoven Capital contributed Rs 75 crore to the B2B platform Jumbotail.
In order to increase consumer wallet share, boost their net sales by 100%, and achieve operational profitability in the upcoming 12 months, Jumbotail wants to invest money in developing deep sourcing skills and AI-driven technology. The firm plans to extend its existing retailer network of over 250,000 stores across 50 cities to around 400,000 merchants, and attain over 80% of penetration of the addressable market in the next 12 months.
Jumbotail provides a full range of go-to-market services for firms wishing to enter the kirana industry to influence both retailer demand and customer demand. Jumbotail was founded by S. Kartik Venkateswaran and Ashish Jhina. Jumbotail now has approximately 60% of the addressable market share of kirana stores in the 50 locations where it operates, and all of its sales are the result of organic, unaided digital orders placed by kirana stores all over the nation using the Jumbotail b2b digital retailer app.
The J24 brand, consumer demand generation, in-store technologies, J24 app for consumers, integrated supply chain, and working capital support are just a few of the business-in-a-box solutions that Jumbotail’s New Retail platform offers to kirana entrepreneurs so they can convert their stores into J24 branded omnichannel modern convenience stores. The everyday grocery needs of metropolitan middle-class young families are the focus of J24 businesses.
Jumbotail, based in Bengaluru, has raised $125 million in equity from investors including Invus, Heron Rock, VII Ventures, Nutresa, Veronorte, Nexus Ventures, Kalaari Capital, Jumbo Fund, and Arkam Ventures, as well as approximately $14 million in venture debt from top venture debt firms Alteria Capital and Innoven Capital.
