In a Series C3 round led by Artal Asia Pte. Ltd., Sabre Investment, Arkam Ventures, Jarvis Reserve Fund, Reaction Global, VII Ventures, and others, Jumbotail, a B2B marketplace and retail platform for food and grocery, raised Rs 151 crore ($18.2 million).
In December 2021, Artal spearheaded a $85 million Series C funding round at Jumbotail. The company raised $9.5 million in debt in March of last year, and to date, it has raised about $157 million in debt and equity.
According to a press release from the company, Jumbotail intends to invest money in growing its suite of GTM (Go-To-Market) products and services for new and emerging brands in order to reach mass market consumers through Jumbotail’s nationwide network of kirana stores.
By utilizing its deep sourcing capabilities in FMCG and staples as well as its kirana supply chain, Jumbotail aims to develop AI-driven technologies that will increase customer wallet share.
Teams in deep sourcing, technology, category management, product management, and marketing are among the other positions the company intends to fill.
“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..,” said Ashish Jhina, Co-founder and COO of Jumbotail.
Jhina added that by the end of 2024, the business hopes to achieve operational profitability throughout its whole network.
Using a full stack B2B marketplace platform, internal warehousing, and a last-mile delivery supply chain network that offers next-day storefront deliveries to kirana stores, Jumbotail, founded by S. Kartik Venkateswaran and Jhina, serves small and medium kirana stores throughout India. Additionally, it gives kirana store owners access to a fintech platform for financial services, credit solutions, and payments.
Jumbotail claims that organic, unassisted digital orders placed by kirana stores all over the nation via its app were the source of its revenue.
