- Jumbo tail is an online wholesale marketplace for grocery and food items.
- VII Ventures, Nutresa, Veronorte, and Jumbofund participated in this round.
- Jumbotail serves more than 30,000 community stores in the country.
- The startup provides working capital to community shops through cooperation.
Jumbotail is a top tier VC funded startup building an online marketplace for food and grocery, targeted at wholesale buyers. Jumbotail, an online wholesale marketplace for grocery and food items. It raised an additional $14.2 million to digitize neighborhood stores in the world’s second-largest internet market.
Jumbotail charges a commission from sellers who list products on the platform and for supply chain services like warehousing fulfillment and last-mile delivery. Brands pay for additional services like digital merchandising and placement, in-store product placement, not, and sampling.
Jumbotail raises $14.2 million
The five-year-old startup said the new tranche of its Series B financing round was led by VII Ventures. Nutresa, Veronorte, Jumbofund, and Klinkert Investment Trust also participated. Peter Crosby Trust, Nexus Venture Partners, and Discovery Ventures were part of the fundraising process.
Its Series B round, which it kickstarted in 2019 with a tranche of $12.7 million. It ended up raising about $44 million in the Series B round and to date has amassed about $54 million in equity investment, the startup told the publication. Completing its $25 million fundraise, Jumbotail will use the funds to hire top talent and scale its core B2B marketplace to new geographies across India.
Jumbotail serving 30000 Kirana stores across India
Jumbotail serves 30,000 Kirana stores via its full-stack eCommerce model consisting of its B2B marketplace platform. It is an industry-leading warehousing and last-mile delivery supply chain network. Jumbotail also acts as a fintech platform for payment and credit solutions to Kirana store owners.
Jumbotail will use the funds to hire top talent, scale its core B2B marketplace to new geographies across India. Grow private label product portfolio, and extend its go-to-market services to more FMCG brands seeking entry into Kirana stores and standalone supermarkets across the country.
Sameer Brij Verma, Managing Director, Nexus Venture Partners, added, “Jumbotail’s New Retail platform powering J24 Stores is revolutionary, and their full-stack approach is the most cost-efficient and scalable way to modernize Kirana stores.
