Jumbotail raises $85 Mn in Series C funding

Jumbotail, a B2B marketplace, has secured $85 million in a Series C round headed by Artal Asia Pte. Ltd. and Ajax Capital. Early investors Nexus Venture Partners and Kalaari Capital took minor part-exits in the secondary, making the round a mix of main and secondary investments. Until now, the company has raised a total of $125 million.

The cash will be used to expand Jumbotail’s engineering, product, design, data science, category management, marketing, and finance departments.

Jumbotail is a B2B marketplace that services kirana retailers through its proprietary platforms, which include B2B online marketplace, Supply Chain & Logistics, Fintech for SME Lending, and Retail platform. It was founded in 2015 by S.Karthik Venkateswaran and Ashish Jhina.

The Bengaluru-based firm connects approximately 2000 FMCG and basics companies and sellers to 150,000 kirana outlets in 38 Indian cities and towns, employing over 2,000 people directly and indirectly.

The company also wants to extend its J24 shop network and invest in large-scale kirana entrepreneur skill development efforts in addition to scaling its core B2B marketplace to 100 cities and towns.

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