Jumbotail, a Bengaluru-based B2B marketplace and retail platform for food and grocery, has successfully raised Rs 151 crore ($18.2 million) in a Series C3 funding round. This round was led by Artal Asia Pte. Ltd., with participation from other investors including Heron Rock, Sabre Investment, Arkam Ventures, Jarvis Reserve Fund, Reaction Global, and VII Ventures.
Artal had led a $85 million Series C round in Jumbotail in December 2021. In March last year, the firm raised $9.5 million in debt and has scooped up around $157 million across equity and debt to date.
About Jumbotail
Founded by S. Karthik Venkateswaran and Ashish Jhina, Jumbotail serves small and medium Kirana stores across India via its full-stack B2B marketplace platform. The platform provides an in-house warehousing and last-mile delivery supply chain network that ensures next-day storefront deliveries to Kirana stores. It also offers a fintech platform for payment, credit solutions, and financial services to Kirana store owners.
Use of Funds
The funds raised in this round will be used to scale Jumbotail’s suite of Go-To-Market (GTM) products and services for new and emerging brands. The aim is to reach mass market consumers through Jumbotail’s nationwide Kirana store network. The company also plans to hire teams in deep sourcing, technology, category management, product management, and marketing.
A Message from the Co-founder
Ashish Jhina, Co-founder and COO of Jumbotail expressed his optimism about the company’s future. He stated, “We will strengthen our leadership position by going deeper into our existing markets and helping brands reach kiranas with the lowest total cost of activation and the fastest route to market in the sector.” He also mentioned that the company expects to be fully profitable on an operational basis across its entire network before the end of 2024.
Also read | Climate Tech startup BNZ Green secures $100K in pre-seed round
This funding round marks another significant milestone for Jumbotail as it continues to transform India’s food and grocery retail ecosystem. With its innovative approach and commitment to serving Kirana stores, Jumbotail is well-positioned to continue its growth trajectory in the coming years.