Jumbotail, a leading B2B food and grocery marketplace in India, has raised USD 120 million in a Series D funding round and becomes a unicorn. The round was led by SC Ventures, the innovation and investment arm of Standard Chartered Bank, with support from Artal Asia, an existing investor. With this new investment, the company’s total funding now stands at USD 263 million.
The capital will be used to expand Jumbotail’s AI-native capabilities, improve its technology infrastructure, and strengthen its team. Hiring will focus on roles in product management, AI/ML, supply chain, and marketing as the platform prepares for its next stage of growth.
Acquires Solv India
In a strategic move, Jumbotail has also announced its acquisition of Solv India, a B2B commerce and financial services platform that was incubated by SC Ventures. The Competition Commission of India (CCI) has approved this acquisition, making the combined company one of India’s largest B2B platforms for kiranas, MSMEs, and brands across categories like groceries, electronics, apparel, and footwear.
With this integration, Jumbotail aims to support over 500,000 small retailers across more than 400 cities and towns in India. The merger positions the company to handle a much broader product range and better serve its growing customer base.
Jumbotail: New Unicorn Startup
Founded in 2015 by S Karthik Venkateswaran and Ashish Jhina, Jumbotail provides a full-stack solution that includes a digital marketplace, logistics, working capital loans, the J24 retail store network, and GoldenEye, its retail operating system.
The company is working to transform India’s traditional retail ecosystem by making operations more efficient and inclusive. It allows small shopkeepers and local retailers to digitise operations, access credit, and expand their offerings to compete effectively in a fast-evolving retail market.
Empowers Kiranas, MSMEs
Ashish Jhina, Co-founder and COO, called this a “transformative moment” and emphasized that the platform now enables thousands of brands and businesses to connect with kiranas. CEO Karthik Venkateswaran added that Jumbotail is not just about commerce but about building an inclusive economic engine for India’s future.
Gautam Jain of SC Ventures, who will now be on Jumbotail’s board, said the integration would empower MSMEs through innovation and financial inclusion. With over 2,000 brands and half a million retailers already onboard, Jumbotail is ready to lead India’s next-gen retail revolution. Jumbotail, a new unicorn startup plans to expand and scale AI, expand reach, and empower kiranas and MSMEs.
