Jumbotail, a Bengaluru-based retail platform and B2B marketplace for food and grocery products, has closed $11 million Series B2 funding round led by Heron Rock, with participation from JumboFund, Nexus Venture Partners, Siddhi Capital, Reaction Fund, Pimpernel Holdings, and a group of HNIs and industry leaders.
Founded in November 2015, Jumbotail serves 30,000 kirana stores via its full stack ecommerce model consisting of its B2B marketplace platform, a warehousing and last-mile delivery supply chain network, and a fintech platform for payment and credit solutions to kirana store owners.
Jumbotail’s new retail platform transforms kirana stores into modern omni-channel convenience grocery stores under the J24 brand within 24-48 hours. It is offering kirana retailers a full suite of in-store technology and insights, daily fulfillment of thousands of products, a B2C online store as well as loyalty solutions to better connect retailers to their consumers, in addition to omnichannel integrations with hyperlocal platforms such as Dunzo and Swiggy.
Jumbotail said it will use the funds to scale its core B2B marketplace to new geographies across India, expand its network of J24 stores, grow its private label product portfolio, and to extend its go-to-market services to more FMCG brands seeking entry into kirana stores and standalone supermarkets across the country.
Jumbotail was founded by S Karthik Venkateswaran and Ashish Jhina. Karthik served with the Indian army in hard combat and is a marketplace product veteran from eBay-US and Flipkart. Ashish Jhina is a third generation apple farmer, and a former consultant with BCG, with deep experience in agricultural production and supply chains.
South Africa Today
Read more at VolaNews
