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Jumbotail Raises $18.2 Million in Series C3 Funding to Expand Go-To-Market Solutions


Jumbotail, a leading B2B marketplace for food and grocery in India, has secured $18.2 million (Rs 151 crore) in a Series C3 funding round led by Artal Asia Pte. Ltd. This round follows a successful $85 million Series C round led by Artal Asia in December 2021, bringing Jumbotail's total funding to approximately $157 million across equity and debt.


Jumbotail plans to utilize the fresh capital to enhance its suite of Go-To-Market (GTM) products and services. This focus aims to empower new and emerging brands to effectively reach mass-market consumers through Jumbotail's extensive nationwide network of kirana stores. Jumbotail plans to strategically invest in talent acquisition across various teams, including deep sourcing, technology, category and product management, and marketing. The company's vision is to solidify its leadership position in the market by deepening its presence in existing areas and establishing itself as the preferred partner for brands seeking to reach kirana stores efficiently.

 

Jumbotail leverages AI-powered technology to optimize operations and drive customer value. The company boasts deep sourcing capabilities across FMCG (Fast-Moving Consumer Goods) and staples, along with a robust kirana supply chain network. This combination allows them to offer competitive pricing and efficient delivery solutions.


Co-founder and COO Ashish Jhina expressed confidence in achieving operational profitability across the entire network by the end of 2024. He emphasized Jumbotail's commitment to providing brands with the "lowest total cost of activation and the fastest route to market" within the sector. Founded by S. Karthik Venkateswaran and Jhina, Jumbotail caters to small and medium kirana stores across India. The company offers a comprehensive B2B marketplace platform, complete with in-house warehousing and last-mile delivery infrastructure. This robust network ensures next-day deliveries to kirana storefronts. Additionally, Jumbotail provides a fintech platform offering payment solutions, credit options, and other financial services specifically tailored to kirana store owners.


Jumbotail emphasizes its organic growth, highlighting that sales are driven by unassisted digital orders placed directly through their app by kirana stores across the country. TheKredible, a startup data intelligence platform, reports that Jumbotail's revenue from operations witnessed significant growth in FY23, reaching Rs 819 crore, a 2.17X increase from Rs 377 crore in FY22. However, it's important to note that losses also increased, jumping over 2X to Rs 264 crore in FY23 compared to Rs 125 crore in the previous fiscal year.


 

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