Jumbotail, a Bengaluru-based online market for food items startup has raised ₹90 crore in a Series B round of funding led by Heron Rock. While, other participants in the round includes Capria Fund, BNK Ventures and William Jarvis and existing investors, Nexus Venture Partners and Kalaari Capital.
The online wholesale marketplace company will use the infuse funds to invest in artificial intelligence driven operational excellence in supply chain, forward integration of the Jumbotail platform with PoS, integrating backward to farmers, on-boarding new FMCG brands and expanding its team.
“We have achieved market leadership through our single minded focus on the kirana store. We are levelling the playing field for millions of kirana stores by plugging them into our platform and helping them compete better in an increasingly technology-driven retail world. We have built supply chain and delivery capabilities to serve kirana stores at large scale with the widest selection of staples and FMCG products. The top FMCG brands and staples producers in in the country work directly with Jumbotail as we provide them with capabilities that none of their other channels offer,” Ashish Jhina, COO, Jumbotail said.
Jumbotail is a top tier VC funded startup, building an online wholesale marketplace for food and grocery, targeted at wholesale buyers.
It’s vision is to organise the food and grocery ecosystem in India using technology, data science and design. Jumbotail Marketplace offers a wide selection of products including staples, spices, dry fruits, packaged foods, and FMCG products.
The company was founded by Ashish Jhina.
Furthermore, it connects kirana stores with brands and producers through its marketplace platform and offers an integrated supply chain network, last mile store front delivery and credit and payment solutions to kirana store owners, along with omni channel PoS integration.