Jumbotail Secures Rs 151 Crore in Series C3 Funding, Led by Artal Asia

Bengaluru-based B2B marketplace and retail platform, Jumbotail, secures significant funding in a Series C3 equity round led by Artal Asia, aimed at fueling its expansion and enhancing services for small and medium enterprises.

Funding Details:

• Singapore-based venture capital firm Artal Asia spearheads the Series C3 equity funding with a contribution of Rs 151 crore.
• Participation from Heron Rock, Sabre Investment, Arkham Ventures, Jarvis Reserve Fund, Reaction Global, and VII Ventures underscores investor confidence in Jumbotail’s potential.
• The infusion of funds will facilitate the enhancement of Jumbotail’s go-to-market products and bolster its support for new and emerging brands, particularly in reaching wider audiences through its extensive network of kirana stores nationwide.

Company Overview:

• Founded in 2015 by S Karthik Venkateswaran and Ashish Jhina, Jumbotail offers a comprehensive B2B marketplace platform, coupled with tech-driven warehousing and last-mile delivery supply chain solutions tailored for small and medium enterprises.
• Jumbotail’s offerings extend to next-day storefront deliveries to kirana stores and a fintech platform providing payment, credit solutions, and financial services to kirana store owners.
• The company is actively developing artificial intelligence-driven technologies to enhance customer wallet share across FMCG, staples, and kirana supply segments.

Market Penetration and Performance:

• Jumbotail boasts a remarkable 60% penetration rate among kirana stores in the cities it operates, coupled with the highest wallet share and monthly purchase frequency among small and medium kirana stores.
• An impressive statistic reveals that nearly 100% of Jumbotail’s sales originate from unassisted digital orders, facilitated through the Jumbotail B2B digital retailer app.

Investment Track Record:

• With this latest funding round, Jumbotail’s total equity fundraise reaches $143 million, showcasing the trust and support garnered from prominent investors such as Artal, Heron Rock, Nexus Ventures, Kalaari Capital, Jumbo Fund, and Arkam Ventures.
• Additionally, Jumbotail has secured approximately $14 million in venture debt from leading venture debt firms Alteria Capital and Innoven Capital.

Investor Perspective:

• Benjamin Felt, Board Member of Jumbotail and Managing Director of Invus (the global advisor of Artal), expresses excitement over Jumbotail’s sustainable growth trajectory, emphasizing its focus on profitability and capital efficiency.
• Felt highlights Jumbotail’s market differentiation and leadership in digitally empowering the kirana ecosystem, particularly since Artal’s initial investment in 2021