Jumbotail Secure $120 Mn Series D Funding Led by SC Ventures

B2B food and grocery marketplace jumbotail has entered the unicorn club following a $120 million Series D funding round, led by SC Ventures, the innovation and investment arm of Standard Chartered Plc. The round also saw participation from existing investor Artal Asia, bringing the company’s total funding to $263 million, according to a press release shared with Entrackr.

The funding milestone follows Jumbotail’s recent acquisition of Solv India, a B2B commerce and fintech platform catering to small retailers (kiranas) and MSMEs. The deal, whose value remains undisclosed, has already received approval from the Competition Commission of India (CCI).

Founded in 2015 by Ashish Jhina and Karthik Venkateswaran, Jumbotail operates an online wholesale marketplace, offering logistics, fintech, and supply chain services to both brands and small retailers. The addition of Solv’s fintech and commerce solutions significantly broadens Jumbotail’s ecosystem and reach.

“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 MSME sellers reach over 500,000 small retailers across 400+ cities and towns in India.”

While the company has yet to file its FY24 and FY25 financials, Jumbotail’s FY23 revenue from operations surged 2.17X to Rs 819 crore, though losses also more than doubled to Rs 264 crore during the same period.

As Jumbotail accelerates its push to digitize and streamline India’s fragmented retail ecosystem, the new funding is expected to fuel expansion, tech development, and deeper integration of Solv’s capabilities.