Jumbotail raises $85 million Series C round

Jumbotail, a business-to-business e-commerce company that supplies groceries to mom-and-pop stores, said that it has raised a Series C round of $85 million.
The funding was led by Artal Asia Pte. Ltd., an affiliate of Invus, a global equity investment firm with over $10 billion of evergreen capital under management. Ajax Capital, the family office of veteran FMCG entrepreneur Ajay Gupta, also participated in the round. This Series C 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. This takes the total capital raised by the company to $125M. The company did not disclose the valuation.

Jumbotail said it will use the funds to triple its engineering, product, design, data science, category management, marketing, and finance teams. It will also scale its core B2B marketplace to 100 cities and towns across India from 38 cities, invest in large scale kirana entrepreneur skill development initiatives, and further strengthen its Go-To-Market services to support regional and new age FMCG brands.

It also plans to expand its network of J24 stores. The company has tied up with kirana shop owners to co-brand their shop with additional benefits. Jumbotail not just supplies to these stores, but also has its Point-of-Sale (POS) machines, inventory management, real time data and merchandising insight, helping it to fulfil online deliveries.
“We nearly quadrupled our scale in 2021 and are looking to further accelerate our growth trajectory in the coming year,” said Ashish Jhina, cofounder and COO of Jumbotail.

The company competes with bigger rivals like Bengaluru-based Udaan and Reliance’s wholesale arm, Jiomart Partner.

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