B2B Marketplace Jumbotail Raises Rs 75 crore In Debt Funding
As per the startup, the freshly raised funds will be used to develop its technology stack, grow net revenues by 100%, and hit operational profitability in the next one year.
Jumbotail | B2B Grocery Marketplace
Founded by Ashish Jhina and S. Karthik Venkateswaran in 2015, Jumbotail is a B2B marketplace, serving thousands of mom & pop stores (Kiranas). It provides storefront deliveries to kirana stores, along with its fintech platform for payment, credit solutions and financial services.
Jumbotail ecosystem has 4 in-house, proprietary platforms – B2B online marketplace, Supply Chain & Logistics, Fintech for SME Lending, and a Retail platform that powers its J24 branded convenience grocery stores.
Jumbotail is reimagining and reengineering the food and grocery ecosystem through intelligent technology, intuitive design, and innovative business and supply chain models.
The firm claims to transform traditional unorganised kirana stores into branded modern convenience grocery stores, owned and operated by kirana entrepreneurs, powered by Jumbotail’s New Retail platform. It provides consumer branding, in-store GoldenEye retail technology, data-driven product selection and merchandising insights, an integrated supply chain with daily store fulfilments, a green card loyalty program and payment solutions.
As per Ashish, the firm will strengthen its position by going deeper into its existing markets and expect to hit full operational profitability across our network in the next 12 months. Last year in December, Jumbotail raised $85M in a Series C funding round led by Artal Asia Pte. Ltd., an affiliate of global equity investment firm Invus.
In the first three months of this year, several B2B firms have raised funds.
- Zaggle, a B2B SaaS fintech that filed preliminary documents for an initial public offering late last year, raised Rs 50 crore in debt funding from Vivriti Asset Management.
- ONWO (One World), a Bengaluru-based B2B ecommerce platform, raised $1.6 Mn in a seed funding round led by Kae Capital.
- Cusmat, a virtual reality-based skilling platform, raised $3.5 million (around Rs 28.9 crore) in Series A funding led by Arkam Ventures.
- CapGrid Solutions Pvt Ltd, a Gurugram-based B2B startup, raised Series A funding of $7 million (around Rs 57.2 crore) led by venture capital fund Nexus Venture Partners.
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