Jumbotail, a prominent B2B marketplace and retail platform catering to the food and grocery sector, has secured a significant investment of Rs 151 crore ($18.2 million) in its Series C3 funding round. The round was spearheaded by Artal Asia Pte. Ltd., with participation from Heron Rock, Sabre Investment, Arkam Ventures, Jarvis Reserve Fund, Reaction Global, VII Ventures, and other investors.
This latest injection of funds follows Artal’s leadership in a $85 million Series C round for Jumbotail in December 2021. With a previous debt raise of $9.5 million in March last year, Jumbotail has now amassed approximately $157 million in combined equity and debt financing.
Jumbotail intends to utilize this capital infusion to amplify the scalability of its suite of Go-To-Market (GTM) products and services, facilitating the expansion of new and emerging brands into the mainstream consumer market through Jumbotail’s extensive network of kirana stores nationwide, as per the company’s press release.
Employing AI-driven technologies, Jumbotail aims to enhance customer engagement and increase wallet share by leveraging its robust sourcing capabilities across Fast-Moving Consumer Goods (FMCG) and staple products and its efficient Kirana supply chain infrastructure.
Furthermore, the company plans to bolster its workforce across various domains, including deep sourcing, technology, category management, product management, and marketing.
Commenting on the company’s strategy, Ashish Jhina, Co-founder and COO of Jumbotail, affirmed, “.We will strengthen our leadership position by going deeper into our existing markets and helping brands reach kiranas with the lowest total activation cost and the fastest route to market in the sector.”
Jhina also expressed confidence in achieving total operational profitability across its network by 2024.
Founded by S. Karthik Venkateswaran and Ashish Jhina, Jumbotail caters to small and medium-sized kirana stores throughout India via its comprehensive B2B marketplace platform, in-house warehousing facilities, and last-mile delivery supply chain network, which ensures next-day storefront deliveries. Additionally, Jumbotail offers a fintech platform that provides payment solutions, credit options, and financial services to Kirana store owners.
Jumbotail highlights its achievement in generating sales through unassisted digital orders placed organically by Kirana stores nationwide via its user-friendly app. With this latest funding milestone, Jumbotail is poised to solidify its position as a transformative force in the food and grocery retail landscape further.
