Startup Jammbo is making waves. It is a ride-on battery toy company based in New Delhi. It has set an ambitious revenue goal of Rs 150 crore for the financial year 2024-25. Co-founder and CEO Manasvi Singh highlighted plans for global expansion and product diversification.
The journey of Jammbo started last August and achieved a revenue of Rs 25.5 crore in just eight months. Its monthly revenue has surged from Rs 90 lakh to Rs 5 crore in May 2024. Its remarkable growth highlights the robust business model and market acceptance of startups.
The strategy of Jammbo is a blend of manufacturing strength and widespread accessibility. It has adopted an omnichannel approach and now has offline retail presence across India. It currently operates two manufacturing units, three assembly and warehouse facilities, and an in-house R&D team. Co-founder and CMO Anirban Chatterjee emphasized the expansion of their supply chain. The company currently is equipped with more than 200 retailers across 23 states and 91 cities.
Jammbo also leverages online sales channels through its website and some popular e-commerce platforms. It now boasts a portfolio of about 50 products and mainly focuses on ride-on battery toys like electric cars and bikes.
Jammbo has also recently ventured into the UAE market and it is a first step towards global expansion. Its ambitious roadmap includes entering the U.S. and U.K. markets. This means it is on the path to become a significant player on the international stage.
The company is capable in scaling rapidly and it is coupled with a strategic approach to market penetration and product diversification. A clear roadmap is sure to redefine the toy industry in the world.
