Jumbotail, a Bengaluru – based online B2B (Business to Business) wholesale marketplace announced that it has raised a Series B3 round of 14.2 Million USD on 8th of January 2021. Their aim with the fresh funds is to appoint top genius and talented people in the team and range its core business marketplace to new geographies all over India.
Jumbotail is a top category VC funded organization establishing an online marketplace for food and grocery only, which has completed its total fundraise of 25 Million USD. Recently, the funding was provided by VII Ventures with other investors like Discovery Ventures, a group of HNIs and Industry leaders, Klinkert Investment Trust, Peter Crosby, Trust Veronorte, Jumbo Fund, Nexus Venture Partner and Newtresa.
Jumbotail’s main focus is to resolve a crucial issue of organizing food and grocery ecosystems in the entire country of India through data science, design and technology.
It was established on November 4, 2015 by Ashish Jhina and Karthik Venkateshwaram with legal name Jumbotail Technology Pvt Ltd and currently have approximately 173 employees working in their Bengaluru based office. It also manages a marketplace which connects thousands of these kirana stores with merchants and dealers. The company provides a whole suite of services in addition to chain logistics, an app for placing orders, combination with point and sale devices and credit solutions to department store owners who can’t easily get loans from others.
They arrange a wide variety of high selection staples, packaged foods, homecare, and personal care products from all the leading staple producers and leading brands. Also, they are re-engineering and re-imagining the grocery and food through innovative designs and ingenious business. Jumbotail distributes 30,000 departmental stores through its complete economic base consisting of its industries’ upcoming warehouse.
Ashish Jhina, Co-founder, Jumbotail said “Jumbotail is at an inflection point in its growth trajectory. We are seeing tremendous interest from investors across the globe who are drawn to our highly scalable and operationally profitable business model, built on the industry’s best technology and customer NPS. We will use this capital to scale the business to new regions, double down on our J24 store network, and launch a suit of services to help FMCG brands go to market exponentially faster and at a lower cost. We are looking to bring in more top talent from across the entire company to power this explosive growth”.
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