In order to fuel its expansion plans, Jumbotail, an online wholesale marketplace for food and grocery products, has raised Rs 90 crore in a series B funding round led by Heron Rock.
This round has also seen saw participation from Capria Fund, BNK Ventures, William Jarvis and existing investors including Nexus Venture Partners and Kalaari Capital.
Jumbotail is offering services including mobile-based ordering application for kirana stores, an integrated supply chain network, and last-mile storefront delivery service. The Bengaluru-based startup further provides integration with point of sales (PoS) terminals, helping retailers in the unorganised sector to run their business through technology.
Founded by S Karthik Venkateswaran and Ashish Jhina, Jumbotail will be using the funds to extend its market leadership by investing in artificial intelligence-driven operational excellence in supply chain, forward integration of the Jumbotail platform with PoS, integrating backward to farmers, getting on board new FMCG brands, and expanding its team.
Ashish Jhina, Chief Operating Officer of Jumbotail, said, “We have built a supply chain and delivery capabilities to serve kirana stores at a large scale with the widest selection of staples and FMCG products. The top FMCG brands and staples producers in the country work directly with Jumbotail as we provide them with capabilities that none of their other channels offer.”
Sameer Brij Verma, Managing Director, Nexus Venture, stated, “Jumbotail’s full-stack approach to modernize general trade through cutting edge technology-driven supply chain, data-driven merchandising and credit is the most scalable way to revolutionize India’s grocery retail.”