Bangalorebased Jumbotail Series 44msinghtechcrunch


Jumbotail Secures Massive Funding for Wholesale Marketplace

In India, most homes depend on neighborhood stores for groceries and food supplies. This is where Jumbotail recognized an opportunity. To boost business, this Bangalore Based start-up is now trying to digitize the neighborhood stores. Jumbotail launched five years ago; since then, it has seen massive growth.

What is Bangalorebased Jumbotail Series 44msinghtechcrunch ?

In a recent investment round, Jumbotail successfully closed Series B funding with a capital infusion of $14.2 million. The major investor in this round of investment was VII Ventures. There was also participation from Klinkert Investment Trust, Nutresa, Jumbofund, Veronorte, Nexus Venture Partners, Discovery Ventures, and Peter Crosby Trust.

Bangalorebased Jumbotail Series 44msinghtechcrunch

In an exclusive interview with Manish Singh from TechCrunch, Jumbotail revealed that the company had raised close to $44m until now. Jumbotail has made enormous progress and has a huge market to address since neighborhood stores form the base of grocery delivery in India. The brand can take advantage of economies of scale here. At present, Jumbotail is already serving 30,000 neighborhood stores.

The core business of Jumbotail is to provide B2B solutions to these neighborhood stores. In addition, Jumbotail has also started providing working capital to these stores. To provide these micro-loans, the brand has partnered with various financial institutes. Jumbotail has a strong network supply chain, and it is also enabling last-mile delivery of supplies. In a recent update, Jumbotail also revealed that it has started offering PoS devices to stores. The new solutions also help the stores integrate with the delivery partners like Swiggy and Dunzo. So Bangalorebased Jumbotail Series 44msinghtechcrunch means Jumbotail raises $14.2 million for its wholesale marketplace in India

The new funding will help Jumbotail in hiring fresh talent. The company also plans to expand to more regions with the help of these new funds. In an interview, Ashish Jhina, the co-founder of Jumbotail, mentioned that the brand will now target cities in South India. The operations are highly scalable, which makes investors more confident about the growth story of Jumbotail.