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Jumbotail Secures Rs 151 Crore Funding Led by Artal Asia

Updated: Mar 26

Jumbotail, a leading B2B marketplace and retail platform specializing in food and grocery, has successfully raised Rs 151 crore ($18.2 million) in a Series C3 funding round. The round was spearheaded by Artal Asia, with the participation of a consortium of investors including Heron Rock, Sabre Investment, Arkam Ventures, Jarvis Reserve Fund, Reaction Global, and VII Ventures.

Startup News : Jumbotail Series C3 Round

The raised capital will be channelled towards scaling Jumbotail's suite of go-to-market (GTM) products and services, aimed at aiding new and emerging brands in reaching mass market consumers through the extensive network of Kirana stores nationwide. Additionally, the startup intends to bolster its teams across various departments such as deep sourcing, technology, category management, product management, and marketing to further augment its offerings.

Since its inception in 2015 by S. Karthik Venkateswaran and Ashish Jhina, Jumbotail has become a prominent player in serving small and medium Kirana stores across India. The platform offers a comprehensive B2B marketplace platform, in-house warehousing, and a last-mile delivery supply chain network ensuring next-day deliveries to storefronts.

Jumbotail is also advancing its technological capabilities through the development of AI-driven technologies aimed at increasing customer wallet share across FMCG and staples alongside its Kirana supply chain.

Financially, Jumbotail has showcased significant growth, with its revenue from operations surging to Rs 819 crore in FY23, up from Rs 377 crore in FY22. However, it's noteworthy that the company's losses also increased, nearly doubling to Rs 264 crore in FY23 from Rs 125 crore in the previous fiscal year.

Despite these challenges, Jumbotail maintains a strong market position, claiming 60% penetration in kirana stores in the cities it operates, and nearly 100% of its sales are generated through unassisted digital orders placed via its B2B digital retailer app.

Looking ahead, Jumbotail aims to further expand its reach and achieve full profitability on an operational basis across its entire network by the end of 2024.

"We will strengthen our leadership position by going deeper into our existing markets and by helping brands reach kiranas with the lowest total cost of activation and the fastest route to market in the sector," said Ashish Jhina, Co-founder and COO of Jumbotail.


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