ⓘ Featured image: Jumbotail co-founders, Ashish Jhina (L) and Karthik Venkateswaran
Bengaluru-based Jumbotail, a B2B e-commerce startup that offers food and grocery items to retailers, on Saturday raised $10.5 million in a funding round in which around 22 investors participated. The leading ones were JumboFund, US and Heron Rock, Canada. Participating investors were Nexus Ventures, ‘Science Engineering and the Environment (SEE)‘, Pimpernel Holdings India, E Analytics Partners India among others.
Founded in 2015 by Karthik Venkateswaran (CEO) and Ashish Jhina (COO), Jumbotail directly works with various FMCG brands and aims to augment the food and grocery supply chain by leveraging data science and technology.
According to Crunchbase, the company has raised a total of $25.4 million previously across various funding rounds from Nexus Venture Partners, Heron Rock Fund, and Kalari Capital – making total funds raised by the company to date as $35.9 million.
According to a statement published by Jumbotail on Inc42, the company is planning to utilise the fresh funds to integrate its platform with PoS, integrating with farmers, onboard new FMCG brands, and expand its team.