In fact, products such as surface disinfectants, clothes disinfectants and mouthwash in the past month are more in demand at neighbourhood grocery stores than detergents and toothpastes, says Ashish Kumar, Co-Founder and COO of retail tech company Near S
How Jumbotail co-founders are changing the way grocery is bought and sold in India
In this episode of the 100X Entrepreneur podcast, Ashish Jhina and Karthik Venkateswaran talk about their journey as entrepreneurs, launching Jumbotail, and more.
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aiming to change the way food and grocery are brought and sold in the country.
“
Agriculture is one of the few industries in this country where production happens without necessarily knowing what demand exists, and that is actually the root of a lot of issues. We were talking about what we wanted to do with our lives, so so we decided to figure out if there is a way to solve this problem using things that we are familiar with, such as technology, operations, use of data, ecommerce, and that’s how we ended up starting Jumbotail,” Ashish says.
Indian online grocery wholesaler Jumbotail raises $14.2m led by VII Ventures
Photo: Pixabay Premium
Jumbotail, an online wholesale marketplace for food and grocery products, has raised $14.2 million in its latest round of funding.
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B2B grocer Jumbotail gets $14.2 million to close Series B funding round
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Last Updated: Jan 08, 2021, 10:05 PM IST
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Synopsis
Jumbotail, a business-to-business e-commerce marketplace for groceries, will use the funding to fuel its expansion plans, double down on its J24 store network, and launch a suite of services for FMCG firms.
Agencies
Jumbotail claims to service 30,000 kirana stores through its B2B e-commerce platform.
Bengaluru:Jumbotail, a business-to-business e-commerce marketplace for food and grocery products, has raised $14.2 million in fresh funding led by VII Ventures, bringing to a close the company’s $44 million Series B round.
The latest capital infusion also saw participation from Nutresa, Veronorte, Jumbofund, Klinkert Investment Trust, Peter Crosby Trust, Nexus Venture Partners, Discovery Ventures, and a group of high net-worth individuals and industry leaders, the company said. Jumbotail had in October last year raised $11 million as part of
[Funding alert] B2B food marketplace Jumbotail raises $14.2M in Series B3 round
Completing its $25 million fundraise, Jumbotail will use the funds to hire top talent and scale its core B2B marketplace to new geographies across India.
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$25 million fundraise with $14.2 million raised in Series B3 round of funding led by
VII Ventures, with participation from Nutresa, Veronorte, Jumbofund, Klinkert Investment Trust, Peter Crosby Trust, Nexus Venture Partners, Discovery Ventures, and a group of HNIs and industry leaders.
This round comes in quick succession after
$11 million raised in Series B2 round in October 2020, bringing the total funds raised by the company to