Wholesale online marketplace for Kirana Stores, Jumbotail has raised $11 million in series B2 funding round led by Heron Rock. Nexus Venture Partners, Jumbofund, Siddhi Capital, Pimpernal Holdings, Reaction Fund, HNIs and a few industry leaders also participated in the series B2 round.
According to a statement – Jumbotail will use the funds to scale its core B2B marketplace to new geographies across India, expand its network of J24 stores, to extend its Go-To-Market services to more FMCG brands seeking entry into Kirana stores and standalone supermarkets across the country and to grow its private label product portfolio.
Ashish Jhina, Co-founder, Jumbotail, said – “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. Our J24 store network is emerging as the ecosystem of choice for kirana store owners looking to seamlessly transform their kiranas into modern grocery stores, and to compete better in an increasingly technology-driven retail world.”
Founded in 2015 by S Karthik Venkateswaran and Ashish Jhina, the Bengaluru based start-up serves over 30,000 Kirana stores. It connects stores with brands via its e-commerce marketplace platform and with the help of its warehousing, last-mile delivery supply chain network, fin-tech platform for payment and credit solutions.
-AK
