Jumbotail Raises $85 Million In Series C
The funds will be utilized to triple its engineering, product, design, data science, category management, marketing and finance teams
Jumbotail, India’s new retail platform and B2B e-commerce marketplace for food and grocery products, has raised $85 million in Series C round led by Artal Asia. Ajax Capital, the family office of Ajay Gupta, also participated in the round.
Jumbotail 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, expand its network of J24 stores, 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, said a statement.
“We nearly quadrupled our scale in 2021 and are looking to further accelerate our growth trajectory in the coming year. We will continue to invest aggressively to make Jumbotail the pre-eminent destination for food and grocery brands to reach the overwhelming majority of India’s consumers through our pan-India network of kirana partners,” said Ashish Jhina, co-founder and COO of Jumbotail.
"Having spent nearly 25 years building FMCG brands in India the hard way, I believe Jumbotail will make it infinitely easier for the next generation of FMCG brands to scale rapidly and cost effectively. I am excited to be part of this journey," said Ajay Gupta of Ajax Capital.
Founded in November 2015, Jumbotail connects nearly 2,000 FMCG and staples brands and sellers to 150,000 kirana stores across 38 cities and towns in India via its full stack e-commerce model consisting of its B2B e-commerce marketplace platform and its industry leading warehousing and logistics supply chain network. An estimated 14 million kirana stores in India control more than 95 per cent of the country’s $500 billion-plus food and grocery market. Jumbotail is poised to transform the kirana store ecosystem at an unprecedented pace and scale over the next few years, added the statement.