Bangalore based retail-tech startup SnapBizz have announced that it has raised funding from Ratan Tata, Chairman Emeritus, Tata Sons. In January 2016, SnapBizz had announced a Series A funding of $7.2 million led by Jungle Ventures, Taurus Value creation, Konly Venture and Blume Ventures.
With the mission of transforming the un-organized fragmented retail sector in the country, SnapBizz currently works with over a thousand kirana stores across Mumbai, Pune, Delhi, Hyderabad, Chennai and Bangalore and aims to expand its footprint across other tier 1 and 2 cities.
Prem Kumar, CEO and founder, SnapBizz said
We are privileged to have Mr. Tata as an investor at SnapBizz. As one of the most respected names in corporate India, Mr. Tata brings a rich legacy of doing business with a human touch. This reflects in his investment in SnapBizz as we have begun a humble journey of reverse marginalisation of SMB’s and driving digital inclusion in the large consumer goods industry.
A visionary of Mr. Tata’s stature showing confidence in SnapBizz is certainly a big boost for our business idea and will continue to accelerate the digital revolution in India’s kirana stores. Brands are also seeing this an opportunity to partner with us in order to be a well wisher of the retailers ?and get the share of mind of the retailer to appropriate the positioning as the company that cares for the retailers.
Snapbizz is on a mission to transform the face of small-scale retail sector in the country and empower kirana stores not only to be competition ready but to have a competitive edge by making them ‘Virtual Super Markets’. Snapbizz solutions are designed and developed with an in-depth understanding of business process of the kirana store that is reflected in its simplicity and ease of use.
It’s unique ability to create virtual shelf space attracts additional income to retailers from companies that want to merchandize and contextually engage customers in-store and out of store. It also enables smart store management and a digital connection to consumers, FMCG companies and distributors.
In a diverse market like India, where the traditional kirana stores make 98% of store universe and 85% of retail business, the Snapbizz solution is revolutionizing kirana stores across the country by connecting all the dots of the fragmented FMCG ecosystem [brands, retailers, consumers, wholesalers and distributors] and addresses pain points of all stakeholders.
About SnapBizz
SnapBizz Cloudtech Pvt Ltd is a retail-technology company founded in 2013 to transform the small scale retail sector in the country. To reverse marginalization of SMB’s and drive digital inclusion in the large consumer goods industry, it has developed a technology platform to connect all stakeholders of the fragmented retail ecosystem of India, while adding value to individual stakeholders.
The end-to-end solution it offers is an android based, cloud-connected business platform that is also cost-effective. The solution comprises of tablet, barcode scanner, printer and an intelligent external large consumer facing LED display for consumer engagement. SnapBizz is backed by leading investors and strategic partners who are captains of industry and bring in an innovation funnel of cutting edge technology.
[Image Credit* – SnapBizz]