01-07-2025
Jumbotail Turns Unicorn Following USD 120 Mn Raise Led by SC Ventures
As part of a strategic expansion, Jumbotail also announced the successful acquisition of Solv India, a B2B commerce and financial services platform incubated by SC Ventures.
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Jumbotail, India's leading B2B marketplace and new retail platform for food and grocery, has raised USD 120 million in a Series D funding round led by SC Ventures, the innovation and investment arm of Standard Chartered Plc. Existing investor Artal Asia also participated, bringing the company's total funding to USD 263 million.
The fresh capital will be deployed to scale Jumbotail's AI-native solutions and capabilities, accelerating its mission to become the most efficient and scalable gateway to mass-market consumption in India. The funds will also support talent acquisition across multiple verticals including product management, AI/ML, supply chain, and marketing.
As part of a strategic expansion, Jumbotail also announced the successful acquisition of Solv India, a B2B commerce and financial services platform incubated by SC Ventures. The acquisition, approved by the Competition Commission of India (CCI), positions the combined entity as one of India's largest horizontal B2B platforms, catering to kiranas, MSMEs, and brands across multiple categories including food and grocery, apparel, footwear, consumer electronics, and more.
"This is a transformative moment in our journey," said Ashish Jhina, Co-founder and COO of Jumbotail. "Together with Solv, we now help thousands of brands and MSMEs reach over 500,000 small retailers across more than 400 cities and towns in India."
Founded in 2015 by S Karthik Venkateswaran and Ashish Jhina, Jumbotail offers a full-stack suite of services to modernise India's traditional retail ecosystem. Its offerings include a digital marketplace, logistics infrastructure, working capital solutions, the J24 New Retail convenience store network, and the GoldenEye Retail Operating System for retail transformation.
"With strong fundamentals, a clear path to profitability, and a mission-driven team, Jumbotail and Solv are uniquely positioned to transform India's B2B commerce landscape," said S Karthik Venkateswaran, Co-founder and CEO of Jumbotail. "Our vision goes beyond commerce—we aim to build an inclusive economic engine for India's future."
Gautam Jain of SC Ventures, who will join Jumbotail's board, added, "This integration represents a leap forward in empowering MSMEs through responsible innovation and financial inclusion."
Jumbotail's AI-powered platform enables small retailers to digitise operations, access credit, and compete effectively in India's evolving retail sector. With over 500,000 retailers and 2,000 brands onboard, the company is at the forefront of shaping India's next-generation retail infrastructure.
