Jumbotail Secures $18.2 Mn in Series C3 Round, To Scale Its Suite of Products and Services

Jumbotail Funding

Bengaluru-based B2B marketplace and retail platform Jumbotail has made headlines by raising Rs 151 crore ($18.2 million) in a Series C3 round led by Artal Asia Pte. Ltd. The funding round also saw participation from Arkam Ventures, Jarvis Reserve Fund, Heron Rock, Sabre Investment, Reaction Global, VII Ventures, and others.

As per the startup, the freshly raised funds will be used for scaling its suite of GTM (Go-To-Market) products and services for new and emerging brands. This will enable the B2B startup to reach mass market consumers via its nationwide kirana store network.

Founded by Ashish Jhina and S. Karthik Venkateswaran in 2015, Jumbotail is a B2B marketplace and retail platform for food and grocery. Serving thousands of mom-and-pop stores (Kiranas), Jumbotail offers a full-stack B2B marketplace platform, in-house warehousing, and last-mile delivery supply chain network, providing next-day storefront deliveries to these kirana stores. 

Further, the B2B startup provides these kirana store owners with a fintech platform for payment, credit solutions, and financial services.

Speaking about the development, 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.”

Jumbotail Funding

The Bengaluru-based B2B startup claims to be building AI-driven technologies to increase customer wallet share. It aims to achieve this by leveraging its deep sourcing capabilities across FMCG and staples, coupled with its industry-leading kirana supply chain. With the raised funds, Jumbotail also plans to increase its team strength across technology, deep sourcing, category management, product management, and marketing. 

Before the end of 2024, Jumbotail expects to be fully profitable on an operational basis across its entire network. 

In March 2023, Jumbotail raised $9.1 million (around Rs 75 crore) in debt funding from Alteria Capital and Innoven Capital. Before that, its existing investor, Artal, had led a $85 million Series C round in the B2B startup in December 2021. Including the current funding round, the firm has raised around $157 million across equity and debt to date.

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