B2B startup Jumbotail raises Rs 151 crore from Artal Asia and others

Jumbotail has raised a total of $143 million in equity from investors such as Artal, Heron Rock, and Kalaari Capital.

Jumbotail, a B2B marketplace and retail platform, has raised Rs 151 crore (around $18.2 million) in its Series C3 round led by investor Artal Asia.

Investors such as Heron Rock, Sabre Investment, Arkam Ventures, Jarvis Reserve Fund, Reaction Global, VII Ventures and others also participated in the round, the company said on March 18.

“We will strengthen our leadership position by going deeper into our existing markets and by helping brands reach kiranas with the lowest total cost of activation and the fastest route to market in the sector,” Jumbotail co-founder and COO Ashish Jhina said.

The investment comes months after rival Udaan raised $340 million from UK’s M&G Plc.

Jumbotail, which also retails food and grocery items, said it will use the money to scale its offerings of go-to-market (GTM) products and services for new and emerging brands.

The strategy will help the startup reach mass market consumers via its network of kirana stores, it said.

The company also plans to hire teams for deep sourcing, category management, product management, AI/ML and marketing.

With fresh capital, the Bengaluru-based company expects to turn profitable by the end of the current calendar year.

Jumbotail is a full stack eB2B company. Brands can tap into the company’s network and help create awareness among kiranas, from products to purchase and restocking.

India’s retail B2B market is growing at a compound annual growth rate (CAGR) of 10 percent and is expected to reach $1.3 trillion by FY25, RedSeer, a consulting firm, has said.

"Since Artal’s first investment in Jumbotail in 2021, Jumbotail has continued to demonstrate its differentiation and market leadership in the digital enablement of the kirana ecosystem,” said Benjamin Felt, managing director of Invus, the global advisor of Artal.

Jumbotail has raised a total of $143 million in equity from investors like Artal, Heron Rock, Nexus Ventures, Kalaari Capital, Jumbo Fund and Arkam Ventures. The company has also secured around $14 million in venture debt from Alteria Capital and Innoven Capital.