The Bengaluru-based startup is assisting hundreds of Kirana store owners in procuring staples and consumer goods through their mobile applications. Jumbotail wasn’t a business invented out of whack. It was, in fact, the idea that the founders, Karthik Venkateswaran and Ashish Jhina, had been cultivating long before their roads crossed at Stanford University in 2009, and took years to crystallize.
About The Company Jumbotail
Jumbotail was initiated in November 2015 and started its operations in April 2016 with a conception of organizing the food and grocery ecosystem in India using technology, data science and design. In the food and grocery ecosystem, both supply and demand are highly fragmented (there are over 10 million kiranas in India which account for 95%+ of food and grocery demand) and there is very little transparency on request and pricing which leads to enormous inefficiencies.
The founders realised that the elevated the quality of demand information, and the quickly the demand information is prepared to the ecosystem, the better the efficiency of the supply chain, planning and replenishment. They believed that the time was ripe for solving those problems through a two-sided e-commerce platform backed by a robust supply chain and payments capabilities. Jumbotail is the outcome of this effort by a highly motivated team of nearly 140 people over the last three years.
How does The Platform Work?
Jumbotail marketplace platform provides Kirana stores with a convenient, loyal way of procuring their supplies. Jumbotail is a one-stop-shop for all their staples and FMCG needs. Kirana stores use the Jumbotail app to find all relevant products and place order 24x from the comfort of their stores/house.
Jumbotail acquires and governs the entire supply chain network of warehouses, fulfilment centres, distribution centres and last-mile storefront delivery. Store owners get a 24/48 hour storefront delivery, and at the time of delivery, Kirana store owners can pay using six different payment methods. Jumbotail delivers world-class customer service and excellent product quality.
Jumbotail’s offline marketplace includes over 20,000 Kirana Stores in Bangalore. The company sources FMCG grocery products and food items such as Pulses, Staples etc. It also has its mobile app with integrated payment feature and also serves credit solutions to Kirana store owners.
Managing the Full-Stack Model
Jumbotail obtained funding of $8.5 Million back in 2017 in its Series A funding round. Jumbotail has raised USD 11 Million as funds in an extended Series B funding round which was led by a Canadian venture Capital Fund, Heron Rock. Other investors and participants of the funding round include William Jarvis, Capria Fund, Kalaari Capital, BNK Ventures and Nexus Venture Partners.
Overcoming The Challenges
In an endeavour to guarantee uncontrolled operations, Jumbotail is continuously encouraging the staff and leading the functions from the front. They are monitoring the situation closely and visiting the supply chain operation locations. Keeping in mind the need for constant availability of the product, Jumbotail is consistently strengthening its relationship with the brands/vendors/producers to continue to deliver the products to Jumbotail warehouses.
AI is playing a vital role in the present situation. Jumbo tail is using AI to smoothen demand, prevent hoarders from ordering large volumes, optimisation of routes.
“We are going to mass transform Kirana stores into J24 stores and extend our presence across the entire value – from farm/mills to last-mile retail serving the end consumer via our J24 stores. We will build technology, and services for the mom & pop entrepreneur to run modern convenience stores using Jumbotail’s tech stack and fully integrated supply chain. We are laying the digital and the physical pipes to change the narrative of Kirana stores in our country and help them compete in a technology-driven world with fast-changing and ever-increasing consumer demands.“ explains Ashish, co-founder and COO, Jumbotail.