Add TechGraph on Google
India’s leading new retail platform and B2B marketplace for goods & grocery products, Jumbotail has raised $11 million in series B2 round funding from Heron Rock and few others.
Led by Heron Rock the new round funding also saw the participation of Jumbofund, Nexus Venture Partners, Siddhi Capital, Reaction Fund, Pimpernel Holdings along with a group of HNIs and other industry leaders.
In a statement issued, Jumbotail said, “The company will use the fund to scale its core B2B marketplace to new geographies across India, expand its network of J24 stores, grow its private label product portfolio and to extend its Go-To-Market services to more FMGC brands seeking entry into kirana stores and standalone supermarkets across the country.”
Speaking on the funding, Ashish Jhina, Co-founder Of, Jumbotail, “We have built a very capital efficient and operationally profitable business by focusing on solving problems for kiranas. We enjoy tremendous goodwill from our kirana customers on the back of our best-in-class convenience and service, which remained uninterrupted even during the Covid lockdowns. Our J24 store network is emerging as the ecosystem of choice for kirana store owners looking to seamlessly transform their kiranas into modern grocery stores, and to compete better in an increasingly technology-driven retail world.”
“Jumbotail has displayed tremendous grit and resilience in the face of unprecedented odds and continued to execute at a level of excellence that is rarely seen. We are doubling down on our investment in Jumbotail as we believe they are best positioned to transform food & grocery retail in India”, says Tom Williams, General Partner of Heron Rock.
Adding to the statement, Sameer Brij Verma, Managing Director, Nexus Venture Partners, said, “Jumbotail’s New Retail platform powering J24 Stores is revolutionary, and their full-stack approach is likely the most cost-efficient and scalable way to modernize kirana stores. We have been firm believers in the team and their approach from the very beginning”.