Jumbotail, a new retail platform and B2B marketplace for food and grocery products, has raised Rs 35 crore from Alteria Capital. This venture debt round comes after a $25 million equity round concluded in January 2021. The company plans to use the funds to expand its operations across the entire country, fund its working capital requirements, and scale its SME focused fintech business. Ashish Jhina, co-founder, Jumbotail, said, “Covisd has accelerated the digital transformation of the food and FMCG sector and it is very evident to all players that digital marketplaces are indispensable for their continued growth. We are seeing rapid adoption of our platform and services from retailers and brands across all geographies. Our J24 store network is growing fast and a large number of FMCG brands are signing up for our go-to-market suite of services to get national reach. We are looking to bring in more top talent across the entire company to power this explosive growth.”
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Technology has become core to how we think about business productivity right from hiring to scaling. - Satya Nadella, Microsoft
Even before COVID-19, the rise of automation and digitisation was transforming global job markets, resulting in the very urgent need for large-scale upskilling and reskilling. Now, this need has become even more important. - Bob Moritz, PwC
Over the last 18 months, every ecosystem player – banks, payment aggregators, NBFCs, neobanks, etc., – are rethinking their tech stack and building in silos. - Vikram Vaidyanathan, Matrix Partners India