Indian E-commerce startup Jumbotail raises USD 85 million in Series C

India-based Jumbotail, an E-commerce platform that simplifies food and grocery shopping for wholesale and retail buyers in India, empowering unique and local retail stores, raised USD 85 million on 21st December 2021.

Investors: The investment round was led by Artal Asia, a subsidiary of Invus, a global equity investment firm. Also participating in the round was Ajax Capital, the family office of veteran FMCG entrepreneur Ajay Gupta. The Series C round consisted of primary and secondary investments, with early investors Nexus Venture Partners and Kalaari Capital exiting secondary investors.

Purpose of funding: The startup plans to use the funds to recruit additional engineers, product designers, data scientists, category managers, marketers, and finance personnel. The company will also expand the network of its J24 stores to 100 cities and towns across India and its B2B marketplace. Additionally, the firm is planning to boost its go-to-market services to support FMCG brands by investing in skill development initiatives for store owners.

About Jumbotail

Founded in 2015 by Ashish Jhina and Karthik Venkateswaran, Jumbotail is located in Bangalore, India. Jumbotail is an E-commerce platform that simplifies food and grocery shopping for wholesale and retail buyers in India, empowering unique and local retail stores. Its services include supply chain logistics, integration with point-of-sale devices, and credit solutions for shop owners who can’t obtain loans from banks. There is also an extensive range of premium staples, home care, packaged food, and personal care products from leading brands. With the help of technology, data science, and design, the startup aims to create an ecosystem for food and grocery in India.

What the founder has to say

“We nearly quadrupled our scale in 2021 and are looking further to accelerate our growth trajectory in the coming year. We will continue to invest aggressively to make Jumbotail the pre-eminent destination for food and grocery brands to reach the overwhelming majority of India’s consumers through our pan-India network of Kirana partners,” said Ashish Jhina, Jumbotail co-founder and COO at Jumbotail.

What the investors have to say

“Our evergreen structure enables us to partner for the long term with companies who seek to transform their industries, and we are thrilled to embark on such a partnership with Jumbotail, which is rapidly emerging as an industry-defining company in B2B eCommerce,” Francis Cukierman, Managing Director, Invus Asia, and Benjamin Felt, Managing Director at Invus US.

“Invus shares Jumbotail’s vision of digitising Kirana stores to transform India’s food and grocery retail landscape at scale.”

“I believe Jumbotail will make it infinitely easier for the next generation of FMCG brands to scale rapidly and cost-effectively,” said Ajay Gupta, founder at Ajax Capital.

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