Jumbotail, an online wholesale marketplace and new retail platform for grocery and food items based in India, raised $14.2m in Series B3 funding round.
The round was led by VII Ventures.
The company intends to use the funds to scale its business to new geographies, expand its private label portfolio, partner with more FMCG brands and to grow its network of J24 modern convenience omnichannel grocery stores in partnership with mom & pop entrepreneurs.
Founded in 2015 by Stanford Business School classmates, S.Karthik Venkateswaran, CEO, and Ashish Jhina, COO, Jumbotail is an online wholesale marketplace and new retail platform for grocery and food items serving more than 30,000 Kirana (mom & pop grocery) stores via its full stack e-commerce model.
The company has raised $40M prior to its current fundraise.
FinSMEs
18/01/2021