Bengaluru. May 25, 2023 — Jumbotail, India’s leading online B2B marketplace and New Retail platform for food & grocery serving over 250,000 kirana stores across 50+ major cities and towns covering 3600 pin codes, today announced results for the Fiscal Year 2023. The startup marked a 100% YoY increase in Gross Merchandise Value (GMV) (net of cancellations and returns), reaching ₹ 2262 crore in FY23, up from ₹ 1128 crore in FY22. This growth was driven by deeper penetration into retailer wallet share and a successful national expansion strategy. Jumbotail has ended the year strongly with key regions, constituting one third of its business, now operating profitably.
[Entrackr Article] Jumbotail’s income zooms over 3X in FY22
Jumbotail raises $9.1M Venture Debt from Alteria and Innoven
Bengaluru, Mar 14/15, 2023: Jumbotail, India’s leading B2B marketplace and New Retail platform for food and grocery has raised INR 75 crore from Alteria Capital and Innoven Capital in a recent venture debt funding round. Jumbotail plans to invest funds in building deep sourcing capabilities and AI driven technologies to drive higher customer wallet share and grow their net revenues by 100%, and achieve operational profitability in the next 12 months.
Jumbotail raises $85M Series C led by Invus
Bengaluru, Dec 20, 2021: Jumbotail, India’s leading New Retail platform and B2B ecommerce marketplace for food and grocery products, has raised an $85M Series C round led by Artal Asia Pte. Ltd., an affiliate of Invus, a global equity investment firm with over $10 billion of evergreen capital under management. Ajax Capital, the family office of veteran FMCG entrepreneur Ajay Gupta, also participated in the round. This Series C round was a combination of primary and secondary investments, with early investors Nexus Venture Partners and Kalaari Capital taking minor part-exits in the secondary. This takes the total capital raised by the company to $125M.