<p>Bengaluru: Jumbotail, a B2B marketplace and new retail platform for food and grocery, has raised $120 million (about Rs 1,029 crore) in a Series D funding round led by SC Ventures, the innovation and investment arm of Standard Chartered Plc. Existing investors including Artal Asia participated in the round. This brings Jumbotail's total capital raised to $263 million, the company said in a statement.</p><p>Jumbotail also completed the acquisition of Solv India, a B2B commerce and financial services platform incubated by SC Ventures. The deal was approved by the Competition Commission of India (CCI). Jumbotail and Solv together cater to kiranas, MSMEs, and brands across food and grocery, apparel and fashion, home furnishing, toys and sports, footwear, and consumer electronics.</p><p>“This is a transformative moment in our journey. Together with Solv, we now help thousands of brands and MSME sellers reach over 500,000 small retailers across more than 400 cities and towns in India," said Ashish Jhina, Co-founder and COO of Jumbotail. </p><p>The company will invest the capital to build AI-native solutions and capabilities to "cement its leadership and become the most efficient and scalable gateway" to mass market consumption in India. Jumbotail and Solv will open new opportunities for brands to quickly scale nationally by leveraging their e-commerce platforms, credit, and Go-To-Market/ marketing solutions, the company said.</p><p>Gautam Jain, Member, SC Ventures will join Jumbotail’s Board of Directors.</p>
<p>Bengaluru: Jumbotail, a B2B marketplace and new retail platform for food and grocery, has raised $120 million (about Rs 1,029 crore) in a Series D funding round led by SC Ventures, the innovation and investment arm of Standard Chartered Plc. Existing investors including Artal Asia participated in the round. This brings Jumbotail's total capital raised to $263 million, the company said in a statement.</p><p>Jumbotail also completed the acquisition of Solv India, a B2B commerce and financial services platform incubated by SC Ventures. The deal was approved by the Competition Commission of India (CCI). Jumbotail and Solv together cater to kiranas, MSMEs, and brands across food and grocery, apparel and fashion, home furnishing, toys and sports, footwear, and consumer electronics.</p><p>“This is a transformative moment in our journey. Together with Solv, we now help thousands of brands and MSME sellers reach over 500,000 small retailers across more than 400 cities and towns in India," said Ashish Jhina, Co-founder and COO of Jumbotail. </p><p>The company will invest the capital to build AI-native solutions and capabilities to "cement its leadership and become the most efficient and scalable gateway" to mass market consumption in India. Jumbotail and Solv will open new opportunities for brands to quickly scale nationally by leveraging their e-commerce platforms, credit, and Go-To-Market/ marketing solutions, the company said.</p><p>Gautam Jain, Member, SC Ventures will join Jumbotail’s Board of Directors.</p>
