B2B marketplace Jumbotail has raised $85 million in Series C funding round led by Artal Asia Pte. Ltd. along with Ajax Capital.The round was a combination of primary and secondary investments, with early investors Nexus Venture Partners and Kalaari Capital taking minor part-exits in the secondary. The firm has raised a total of $125 million till now.
Jumbotail plans to use the funds to expand its engineering, product, design, data science, category management, marketing, and finance teams.
Founded in 2015 by S.Karthik Venkateswaran and Ashish Jhina, Jumbotail is a B2B marketplace which serves kirana stores through its proprietary platforms including B2B online marketplace, Supply Chain & Logistics, Fintech for SME Lending, and Retail platform.
The Bengaluru-based startup connects nearly 2000 FMCG and staples brands and sellers to 150,000 kirana stores across 38 cities and towns in India, providing direct and indirect employment to over 2,000 people.
The company further plans to scale its core B2B marketplace to 100 cities and towns, expand its network of J24 stores and invest in large scale kirana entrepreneur skill development initiatives.