Jumbotail has raised Rs 75 crore from Alteria Capital and InnoVen Capital India in a venture debt funding round on Tuesday.
The B2B marketplace 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 to 400,000 retailers in 50+ cities by the end of the year.
Ashish Jhina, Co-founder and COO of Jumbotail, said, “We will strengthen our leadership position by going deeper into our existing markets and expect to hit full operational profitability across our entire network in the next 12 months.”
