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Jumbotail Technologies raises $11 Million in Series B2 Funding Round

Jumbotail Technologies Private Ltd. is an online B2B marketplace that deals in grocery products and food supplies. The company is based out of Bengaluru and operates by supplying mom and pop shops in India or commonly known as Kirana Stores with products directly from brands to maintain their shelf and storage stock.

The food supply company operates efficiently with their own Business-to-Business market platform, with its own supply chain, own warehouses and even a financial technology platform for direct digital payments. Jumbotail Pvt. Ltd. is a strong company with an efficient business model.

Recently, Jumbotail has raised USD 11 Million as funds in an extended Series B funding round which was led by a Canadian venture Capital Fund, Heron Rock. Other investors and participants of the funding round include William Jarvis, Capria Fund, Kalaari Capital, BNK Ventures and Nexus Venture Partners.

Credits: https://rb.gy/1qftrl

When asked about the use of this newly acquired fund, the Indian Wholesaler company stated that these funds will be used to grow Jumbotail’s delivery supply chain. Not just this, the company has some specific plans for the future of the company that includes integration of the company’s online platform with PoS (Point of Sale) machinery and with farmers. The company further aims to hire fresh talents and partner with more FMCG (Fast Moving Consumer Goods) brands with these fresh funds.

Jumbotail’s offline marketplace includes over 20,000 Kirana Stores in Bangalore. The company sources FMCG grocery products and food items such as Pulses, Staples etc.  It also has its own mobile app with integrated payment feature and also serves credit solutions to Kirana store owners.

The company was founded back in 2015 by Ashish Jhina and Karthik Venkateswaran. Jihna has previously worked with the Boston Consulting Group, has experience in agricultural production, farming essentials and supply chains.

The other co-founder, Venkateswaran has prior work experience with online e-commerce platforms- Flipkart and eBay. The company now is equipped with a fully functional supply chain network and offers delivery service as well.

Credits: https://rb.gy/nohbvs

Jumbotail secured a funding of $8.5 Million back in 2017 in its Series A funding round.

There is a lot of potential in the market for such business as claimed by a company spokesperson but there are rivals like Udaan and ShopKirana that offer similar services and have created a Wholesale procurement system for small mom and pop grocery stores.

Other tech giants like Amazon, Reliance Jio and Walmart also see a lot of potential in the Indian market, they are investing heavy funds in such projects competing with start-ups to supply Wholesale and FMCG services to Kirana Stores.

 

 

 

 

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