Bangalorebased Jumbotail 44msinghtechcrunch – Jumbotail, a Bangalore-based startup that operates an online wholesale marketplace for food and grocery products, has raised $17 million in Series B funding.
The round was led by Accel Partners, with participation from Kalaari Capital, which had also backed the company’s $5 million Series A in 2016.
Jumbotail was founded in 2013 by Saman Khurana and Karthik Venkateswaran, who had previously worked together at Amazon, and it now operates in six cities across India.
The company’s platform connects small businesses and kiranas ( mom and pop stores) with suppliers, and it offers credit and logistics services to its customers.
Jumbotail says that it has more than 50,000 registered customers on its platform, and that it has served over 1.5 million orders to date.
The startup will use the new funding to expand its product assortment and geographical reach. It is also planning to launch a new credit product for its customers.
Jumbotail’s competitors include Amazon’s wholesale subsidiary Amazon Business, as well as Flipkart’s Wholesale division.
Series B
Jumbotail has raised $17 million in Series B funding, led by Accel Partners.
The round also saw participation from Kalaari Capital, which had backed the company’s $5 million Series A in 2016.
This brings Jumbotail’s total funding to $22 million.
The startup will use the new funding to expand its product assortment and geographical reach. It is also planning to launch a new credit product for its customers.
Jumbotail’s competitors include Amazon’s wholesale subsidiary Amazon Business, as well as Flipkart’s Wholesale division.
Jumbotail was founded in 2013 by Saman Khurana and Karthik Venkateswaran, who had previously worked together at Amazon.
The company’s platform connects small businesses and kiranas ( mom and pop stores) with suppliers, and it offers credit and logistics services to its customers.
Jumbotail says that it has more than 50,000 registered customers on its platform, and that it has served over 1.5 million orders to date.
Jumbotail is currently operational in six cities across India, and the startup plans to use the new funding to expand to more cities.
Credit Product
Jumbotail is planning to launch a new credit product for its customers.
The product will be designed for small businesses and kiranas ( mom and pop stores) that use the Jumbotail platform.
Jumbotail’s credit product will offer customers flexible repayment terms, and will be backed by a collateral-free loan from a leading financial institution.
The product will be launched in the next few months, and will be available to Jumbotail’s customers in all six cities where the startup is currently operational.
Jumbotail’s Competitors
Jumbotail’s main competitors are Amazon’s wholesale subsidiary Amazon Business, and Flipkart’s Wholesale division.
Amazon Business is a fairly new entrant in the Indian market, and it is currently only operational in a few cities.
Flipkart, on the other hand, has been operating its Wholesale division for over two years now, and it is available in 25 cities across India.
Jumbotail, however, is the market leader in terms of the number of customers and orders served.
The company says that it has more than 50,000 registered customers on its platform, and that it has served over 1.5 million orders to date.
