PE Fund Investments
Grocery marketplace Jumbotail raises $85-M; Nexus, Kalaari make part exits
Bengaluru-based Jumbotail, a retail platform and B2B ecommerce marketplace for food and grocery products, has raised a USD 85 million Series C round led by global equity investment firm Invus (via its unit Artal Asia Pte Ltd). Ajax Capital, the family office of FMCG entrepreneur Ajay Gupta, also participated in the round. Francis Cukierman and Benjamin Felt, Managing Directors of Invus US, will join the Jumbotail board. The Series C round was a combination of primary and secondary investments, with early investors Nexus Venture Partners and Kalaari Capital taking minor part-exits. Jumbotail, founded in 2015 by Stanford MBA classmates S Karthik Venkateswaran and Ashish Jhina, will use the funds to triple its engineering, product, design, data science, category management, marketing and finance teams.
From the Venture Intelligence PE-VC Deal Database: Between Dec-15 and Jun-21 Jumbotail raised $56.5 M from Alteria Capital, Nexus Venture Partners, Heron Rock Fund, Arkam Ventures, Kalaari Capital, Capria Ventures, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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