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Ratan Tata Invests In Retail Technology Firm SnapBizz

Ratan Tata Invests In Retail Technology Firm SnapBizz

Bangalore-based retail technology firm, SnapBizz, has raised an undisclosed amount of funding from veteran industrialist Ratan Tata, reported ET.

Founded in 2013 by Prem Kumar, SnapBizz, aims to develop a mobile technology platform to connect the various stakeholders of a fragmented retail market ecosystem, while adding value to individual stakeholders.

Earlier last month, SnapBizz raised $7.2 Mn (about INR 48 Cr.) in a funding round led by Jungle Ventures, Taurus Value Creation, Konly Venture and Blume Ventures. Prior to that, it had raised $1.7 Mn.

In order to fill in the gap of this fragmented space, SnapBizz has created a disruptive solution to address the business needs of the FMCG ecosystem (brands, retailer, consumer and distributor) in large/medium “kirana” stores. The solution benefits retailers with improved profitability by using contextual visibility and smart store management.

The solution is an android tablet-based, cloud-connected, business platform which is also cost-effective. It comprises of tablet, barcode scanner, thermal printer and an intelligent external 22” consumer facing LED display for Hi-Definition consumer engagement.

With the mission of transforming the unorganised fragmented retail sector in the country, currently, it is present in traditional retail outlets in Mumbai, Pune, New Delhi, Bangalore and Hyderabad and aims to expand its footprint across other tier 1 and 2 cities.

This is Tata’s eighth investment in startups so far this year – Tea Box, FirstCry, CashKaro, Tracxn, DogSpot, Invictus Oncology and Moglix. Ratan Tata, former Tata Group chairman, has invested over 20 startups so far.

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Vishal Singh

Inc42 Staff

For Vishal Singh, football is oxygen, traveling is living, night is day, online gaming is serious sport and superheroes are real. Yes, real. And like the call sign of any superhero, one can always find him enrapt to his laptop screen. His passion lies in writing pieces that would get the brain engines of readers churning and aspires to one day be known by his opus.

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