B2B food and ecommerce marketplace Jumbotail raised a debt funding of INR 75 crore from Alteria Capital and Innoven Capital. The startup stated that it would use the new funds to build deep sourcing capabilities and AI-driven technologies in order to increase customer wallet share and grow net revenue by 100% in the next 12 months.
Jumbotail claims to provide a full suite of go-to-market services for brands looking to enter the kirana market in order to shape both retailer and consumer demand. It operates an online B2B grocery and food marketplace primarily for wholesale buyers. In the next 12 months, Jumbotail hopes to increase its retailer base to around 4 lakh and achieve over 80% penetration in the addressable market. Jumbotail currently has over 2.5 lakh retailers in over 50 cities.
The startup also stated that it would speed up hiring in teams such as deep sourcing, category management, product management, AI/ML, and marketing. As per a report, India’s B2B ecommerce market, which is led by players like Udaan and Jiomart, is expected to reach $90-$100 billion in gross merchandise value (GMV) by 2030.
