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.
Bengaluru, Mar 22, 2023: “Kiranas are the Kings!” – Our Cofounder Ashish Jhina speaking on CNBC-TV18, sharing his perspectives on what sets Jumbotail apart among the players operating in India’s the largest market – food and grocery. #Jumbotail #JaiJawanJaiKisanJaiDukaan #YourStoreNextDoor #J24
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.
"We have built the largest B2B grocery platform in the country with one tenth of capital spent by others!"
Ashish Jhina, Cofounder, Jumbotail speaking on India Global Forum
Bengaluru, Dec 13, 2022: Jumbotail Cofounder Ashish Jhina speaking in India Global Forum – “We always knew this (Grocery) is a very very large market, $500B projected to go to $1T, it is going attract a lot of people with lot of capital. And, so capital was never the mechanism by which we believed we could build sustainable advantage. Therefore we chose to optimise on service levels, convenience, reliability, and trust. Those dont cost a lot of money. We have built the largest platform in the country with one tenth or one twentieth of (capital) what other people deployed. If you build something frugal and scrappy, these are great times to be building businesses”
Bengaluru, April 14, 2021:In this episode of the 100x Entrepreneur podcast, we chat with Ashish Jhina & Karthik Venkateswaran, co-founders of Jumbotail. During the podcast, they talk about breaking down a problem to its finest version and then solving for it, they also talk about how capital has wrongly been seen as a golden solution by most entrepreneurs for solving all challenges at a startup.
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.
By VC Circle
Bengaluru, Dec 07, 2020: In a podcast with VCCircle, Ashish Jhina talks about the company refining its model instead of scaling too quickly, as well as kirana stores receiving their due in public perception following the onset of the Covid-19 pandemic in India. He also explains why Jumbotail’s customers are among the savviest entrepreneurs in the world, as well as the importance of the company staying true to its core values and building itself around those
Bengaluru, July 27, 2020: Taking a bold bet on the survival & revival of India’s mom & pop stores, an apple farmer & ex-military man set out to digitise kirana stores with their wholesale online marketplace. “There is no question of online grocery & big box retail replacing the Kirana store. The grocery market is small transactions done frequently by people from stores that are located in their neighbourhood, which will continue to cater to essential services and that is the mass market”, believe the founders of Jumbotail. The startup is empowering local entrepreneurs and facilitating the ecosystem by enabling small shop owners with its full stack model of supply, payment, credit solutions & omnichannel reach