Jumbotail raised debt funding of INR 75 crore from Alteria Capital and Innoven Capital

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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.

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Jumbotail raised debt funding of INR 75 crore from Alteria Capital and Innoven Capital

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.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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