Jumbotail, a B2B e-commerce marketplace for food and grocery products, announced that it has raised $11 million as part of its Series B2 funding round led by Heron Rock.
Other investors that participated in the current funding round include Jumbofund, Nexus Venture Partners, Siddhi Capital, Reaction Fund, Pimpernel Holdings and a group of HNIs.
Founded in 2015 by Ashish Jhina and Karthik Venkateswaran, Jumbotail claims it has over 30,000 kirana stores on its platform, offering warehousing, supply chain, payment and credit solutions. It also has an omnichannel retail format dubbed J24 that allows partner kirana stores to sell both online and offline.
“We have built a very capital efficient and operationally profitable business by focusing on solving problems for kiranas. We enjoy tremendous goodwill from our kirana customers on the back of our best-in-class convenience and service, which remained uninterrupted even during the Covid lockdowns,” said Ashish Jhina, cofounder at Jumbotail.
The startup said it will utilise the fresh capital to expand its marketplace into new geographies across India and also scale its J24 store network. It also plans to double down on its private label portfolio and acquire more FMCG brands that are looking to tap kiranas and standalone supermarkets.
“Jumbotail has displayed tremendous grit and resilience in the face of unprecedented odds and continued to execute at a level of excellence that is rarely seen. We are doubling down on our investment in Jumbotail as we believe they are best positioned to transform food & grocery retail in India,” said Tom Williams, General Partner at Heron Rock.
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