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Updated: July 01, 2025 08:05
India's B2B grocery and retail-tech firm Jumbotail has officially joined the unicorn club after raising 120 million dollars in its Series D round. The round was led by SC Ventures, the innovation and investment arm of Standard Chartered, with existing investor Artal Asia joining in.
FUNDING FLASHPOINTS
The Series D funding values Jumbotail at more than the 1 billion dollar mark
Total funds raised stands at 263 million dollars
SC Ventures sunk 81.6 million dollars for an 8.12 percent stake
Artal Asia invested 5.1 million dollars, increasing their stake to 15.15 percent
The board had earlier approved a proposal to raise 734 crore rupees (approximately 87 million dollars)
STRATEGIC SYNERGY
Jumbotail has acquired fintech and B2B commerce platform Solv India, which was incubated by SC Ventures.
The transaction was approved by the Competition Commission of India in May 2025
The transaction expands Jumbotail's footprint in food, grocery, clothing, electronics, and home products
Together the two platforms now cater to more than 500,000 small retailers in 400+ Indian cities and towns
GROWTH GAMEPLAN
The new capital will fuel technology innovation and AI-born product development
Hiring will accelerate in functions like category management, AI/ML, supply chain, and decision sciences
Jumbotail desires to be a scalable gateway for mass-market consumption in India
It will also be increasing its J24 New Retail convenience store chain and GoldenEye retail OS
FINANCIAL FOOTNOTES
Operational revenue of Jumbotail doubled to 819 crore rupees in FY23
Losses also increased to 264 crore rupees in the same period
Solv India earned 132 crore rupees in revenue during FY24 and a loss of 375 crore rupees
Despite the recent losses, the combined company is optimistic for long-term profitability through scale and technology
FOUNDERS' VISION
Founded in 2015 by Karthik Venkateswaran and Ashish Jhina The platform facilitates kiranas and MSMEs with digital empowerment, access to credit, and logistics
Co-founder Ashish Jhina referred to the time as transformative, highlighting the efforts made to democratize retail access for small businesses
Source: Entrackr, VCCircle, Outlook Business, AsiaTechDaily
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