Bengaluru Based Startup Jumbotail Raises $11M In Series B2 Funding Round
Jumbotail, a retail platform and B2B marketplace for food and grocery products, has closed $11 million Series B2 funding round led by Heron Rock.
The funding round also saw participation from JumboFund, Nexus Venture Partners, Siddhi Capital, Reaction Fund, Pimpernel Holdings, and a group of HNIs and industry leaders.
As per the startup, it plans to use the funds to scale its core B2B marketplace to new geographies across India. The startup also plans to expand its network of J24 stores, grow its private label product portfolio, and to extend its go-to-market services to more FMCG brands seeking entry into Kirana stores and standalone supermarkets across the country.
Founded by S Karthik Venkateswaran and Ashish Jhina, Jumbotail is a Bengaluru-based online marketplace for food and grocery, targeted at wholesale buyers. The startup is working with a vision to organise the food and grocery ecosystem in India using technology, data science and design.
Talking about the startup, Ashish Jhina, Co-founder of Jumbotail, said,
“We have built a very capital efficient and operationally profitable business by focusing on solving problems for kiranas. Our J24 store network is emerging as the ecosystem of choice for Kirana store owners looking to seamlessly transform their kiranas into modern grocery stores, and to compete better in an increasingly technology-driven retail world.”
Need legal assistance for your startup? Just contact us.