PE-VC Fund Investments
B2B e-commerce co. Jumbotail turns unicorn with $120-M funding led by SC Ventures
Money control Business Standard Jumbotail
Bengaluru-based Jumbotail , a B2B (business-to-business) marketplace and platform for food and grocery retailers has raised USD 120 million (INR 1,027 crore) in a round led by SC Ventures (investment arm of Standard Chartered), with participation from existing investor Artal Asia. The company has achieved unicorn status as part of the investment.The fresh funds will be used by the company for building AI capabilities.Founded in 2015 by Ashish Jhina and Karthik Venkateswaran, Jumbotail offers a B2B marketplace and platform for kirana shops and convenience grocery stores. The company claims to enable traditional unorganised kirana stores become branded modern convenience grocery stores, owned and operated by kirana entrepreneurs, powered by Jumbotail's platform.
Between Dec-15 and Mar-24, Jumbotail had attracted about USD 174- M from Nexus Venture Partners, Kalaari Capital, Heron Rock Fund, Capria Ventures, Arkam Ventures, Alteria Capital, others.
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