B2B Marketplace Startup Jumbotail Secures Rs.151 Crore in Its Latest Funding

Jumbotail, a prominent B2B marketplace and new retail platform for food and grocery has successfully raised INR 151 crore ($18.2 million) in its Series C3 equity funding round. The funding was led by Artal Asia Pte. Ltd. (Artal), with participation from Heron Rock, Sabre Investment, Arkam Ventures, Jarvis Reserve Fund, Reaction Global, VII Ventures, and other investors.

This latest round of funding brings Jumbotail's total equity raised to $143 million, with previous investments from Artal, Heron Rock, Nexus Ventures, Kalaari Capital, Jumbo Fund, Arkam Ventures, as well as venture debt firms Alteria Capital and Innoven Capital providing an additional $14 million in venture debt.

The funds raised will be primarily allocated towards scaling Jumbotail's suite of Go-To-Market (GTM) products and services. These initiatives aim to assist new and emerging brands reach mass-market consumers through Jumbotail's extensive nationwide Kirana store network. Leveraging artificial intelligence (AI)-driven technologies, Jumbotail aims to optimize customer engagement and increase wallet share by leveraging its deep sourcing capabilities across fast-moving consumer goods (FMCG) and staples.

Ashish Jhina, Co-founder and Chief Operating Officer of Jumbotail highlighted the company's commitment to providing the fastest, most effective, and capital-efficient solution for brands to access over 100 million urban middle-class consumers through the Kirana stores on Jumbotail's platform. He emphasized the company's plans to strengthen its leadership position by expanding its presence in existing markets and facilitating brands' access to kiranas with the lowest total cost of activation and the fastest route to market in the sector.

Jhina also expressed confidence in Jumbotail's prospects for achieving full operational profitability across its entire network by the end of 2024. He expressed gratitude towards the investors for their continued support and reaffirmed the company's dedication to transforming India's food and grocery retail ecosystem.