B2B Retail Platform Jumbotail Raises USD 18.2 Mn in Series C3 Led by Artal Asia With the support of funding, the Bengaluru-based startup will be able to expand its suite of go-to-market products and services for new and emerging brands to reach mass market consumers through its nationwide network of kirana stores.
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Jumbotail, a B2B marketplace and retail platform for food and groceries, has announced the raising of INR 151 crore (USD 18.2 million) in a Series C3 round led by Artal Asia Pte Ltd. Heron Rock, Sabre Investment, Arkam Ventures, Jarvis Reserve Fund, Reaction Global, VII Ventures, and others also participated in the round.
A total of USD 143 million in equity has been raised by Jumbotail from well-known investors, such as Heron Rock, Artal, Nexus Ventures, Kalaari Capital, Jumbo Fund, and Arkam Ventures. Additionally, the company has raised roughly USD 14 million in venture debt from venture finance providers Alteria Capital and Innoven Capital.
The startup plans to invest the fresh funds in scaling its suite of GTM (go-to-Market) products and services for new and emerging brands to reach mass market consumers via Jumbotail's nationwide kirana store network.
Ashish Jhina, Co-founder and COO of Jumbotail, said, "We will strengthen our leadership position by going deeper into our existing markets and by helping brands reach kiranas with the lowest total cost of activation and the fastest route to market in the sector."
Founded in 2015 by S. Karthik Venkateswaran and Ashish Jhina, Jumbotail provides small and medium-sized businesses with a full-stack B2B marketplace platform, tech-driven warehousing, and a last-mile delivery supply chain network. In addition, it offers kirana store owners its fintech platform for payment, credit solutions, and financial services, as well as next-day storefront deliveries.
The startup claims that it is now building artificial intelligence-driven technologies to drive higher customer wallet share across FMCG, staples, and kirana supply.
Benjamin Felt, Board Member of Jumbotail and Managing Director of Invus, the global advisor of Artal, said, "We are excited to see Jumbotail execute sustainable growth at scale, with a strong focus on profitability and capital efficiency. Since Artal's first investment in Jumbotail in 2021, Jumbotail has continued to demonstrate its differentiation and market leadership in the digital enablement of the kirana ecosystem."
