Retail technology startup SnapBizz raises funding from Ratan Tata

BENGALURU: SnapBizz has raised an undisclosed amount of funding from Ratan Tata, chairman emeritus of Tata Sons. “Our aim is to focus on reverse marginalisation of small and medium businesses (SMBs), driving digital inclusion in the large consumer goods industry,” said Prem Kumar, founder of SnapBizz.

“A visionary of Tata’s stature showing confidence in SnapBizz is a big boost for our business idea and will continue to accelerate the digital revolution in India’s kirana stores.” SnapBizz aims to change the face of the small-scale retail sector in the country, empowering kirana stores to have a competitive edge by making them “virtual super markets”.

It focuses on creating a virtual shelf space, to attract additional income for retailers from companies that want to merchandise and contextually engage customers in and out of the store.

The startup’s functions involve enabling smart-store management and creating a digital connection to consumers, FMCG companies and distributors. SnapBizz currently works with over 1,000 kirana stores.