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Archivo del Autor: Belen De Leon

India’s Jumbotail raises $12.7 million to digitize convenience stores with its wholesale marketplace

With most small grocery stores in India yet to get online, startups racing to digitize them continue to see promising backing from investors. Jumbotail, an online wholesale marketplace for grocery and food items, today said it has raised $12.7 million to scale its operations.

The Series B financing round for the Bangalore-based startup was led by Heron Rock, with participation from Capria Fund, BNK Ventures and William Jarvis and existing investors Nexus Venture Partners, and Kalaari Capital . The three-and-a-half-year old startup has raised about $24 million to date.

More than 10 million grocery stores, locally known as kiranas, bridge urban cities, towns and villages in India. They control over 95% of the $350 billion food and grocery market in the nation, according to some estimates.

Jumbotail operates a marketplace that connects tens of thousands of these kirana stores with brands and traders. It offers a whole suite of services including supply chain logistics, a mobile app for placing orders, integration with point-and-sales devices, and credit solutions to shop owners that can’t easily get loan from banks.

Ashish Jhina, cofounder and COO of Jumbotail, told TechCrunch in an interview that the startup will invest the fresh capital in developing AI solutions to improve its supply chain network, and make it easier for brands to get started on the marketplace.

Jumbotail, which is only operational in Bangalore area for now, offers its mobile app and support in four languages (English, Hindi, Malayalam, and Kannada), something that is crucially important for their business.

“Our fundamental principle is to serve our customers in languages they are comfortable in. Many of these people are not using other apps. They are using smartphones for the first time. This is also their first experience with e-commerce,� he said.

Jhina added that even as Bangalore area is the only place the startup operates in, Jumbotail is on track to clock $100 million in GMV there by year-end. The startup is exploring expansion in other cities and will make moves in that space soon enough, he said, without disclosing the geography.

The startup employs about 140 people and has an additional 400 staff that work in supply chain network. It’s a small team compared to the likes of Amazon India and Walmart -owned Flipkart that are increasingly working with small retailers in the country to grow their wholesale operations. And then there is Reliance Retail, which is expanding its footprint quickly, too.

But Jhina, an alumnus of Stanford, don’t necessarily seem them as a big threat. On the contrary, he believes that since much of the market remains untapped, any player with deep pockets is helping educate the masses about the potential of e-commerce in the nation. In some ways, Jumbotail also competes with the likes of BigBasket, Grofers, Udaan, and ShopX, all of which are comparatively heavily backed.


Source: TechCrunch

Checking the tech in the 2020 Land Rover Range Rover Evoque video – Roadshow

An updated InControl Touch Pro Duo system and large offering of safety features give the 2020 Range Rover Evoque a strong technology arsenal.
Source: CNET

2020 Land Rover Range Rover Evoque Review: Evolutionary outside but revolutionary inside video – Roadshow

Following the original Range Rover Evoque’s eight-year run, a new second-gen model lands for 2020 with a familiar wrapper, but huge improvements to the cabin and tech.
Source: CNET

2020 Land Rover Range Rover Evoque review: Style, now with more substance – Roadshow

The new Evoque packages an impressive cabin and great ride comfort with attractive design.
Source: CNET

Radiohead releases 18 hours of material to scupper hacker’s ransom demand

A hacker who stole 18 hours’ worth of unreleased Radiohead recordings was reportedly demanding $150,000 in exchange for its return. But instead of paying up, frontman Thom York and the other band members had a better idea.
Source: Digital trends

Dropbox’s all-new desktop app wants to be your one and only workspace

Dropbox has unveiled its most significant update yet as it continues to move away from its original core service as a place to store files in the cloud, toward a virtual workspace solution that offers all services in-app.
Source: Digital trends

DJI’s RoboMaster tank-bot can teach code, play games, and shoot beads

DJI’s new RoboMaster S1 is a robot kit designed to entertain and educate kids. Packed with features, it even has a bead-firing blaster for when negotiations over an allowance raise break down.
Source: Digital trends

The true advantage of AMD’s next-gen chips isn’t power, it’s platforms

AMD announced some impressive new processors and GPUs at E3 this week, with plenty of muscle to flex. But the real strength of AMD in the future isn’t its power or even its price. It’s cross-platform scalability.
Source: Digital trends

Tesla completing ‘small acquisition’ which will help launch its insurance product

Tesla CEO Elon Musk says that the company is in the process of completing a “small acquisition” that will help it release its own insurance product, something it said in April that it was only around “a month” away from bringing to market. One month is at least two months when translated from Musk time to rest-of-us time, so that tracks.

Musk made the remark at Tesla’s Annual Shareholders Meeting, adding that the company is “pretty close to being able to release [its insurance product],” and that in addition to this acquisition in progress, Tesla also has “a bit of software to write” to make it ready for market.

Insurance for Tesla vehicles can be expensive when sourced from traditional insurance providers (it ranked 15th highest in the U.S. in a recent third-party survey) but Tesla says it has a key advantage when compared to third-parties that will help it price insurance for its customers correctly – ample and detailed information about their driving habits.

No word yet on who the acquisition target is, but it makes sense that Apple might seek to pick up a small insurer to supplement its own driving and user data, rather than trying to build an insurance business in-house from scratch.


Source: TechCrunch

Radiohead Gets ‘Hacked,’ a T-Mobile/Sprint Hiccup, and More News

Catch up on the most important news from today in two minutes or less.
Source: Wired

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