B2B E-Commerce Startup Jumbotail Rising $10.5 million from Jumbo Fund and Others

• Jumbotail is a Bengaluru-based B2B e-commerce startup for food and grocery, one of India’s top grocery and food marketplace.
• With this investment, Jumbotail has raised $10.5 million in a total of four funding rounds.

Bengaluru-based B2B grocery and food e-commerce marketplace, Jumbotail raises $10.5 million (or about Rs 77 crore) as a part of its Series B funding round led by JumboFund, existing investor Heron Rock, and 22 other investors.

Other 22 investors, including Nexus Ventures, SEE LLC (Science, Engineering, and the Environment), Pimpernel Holdings, among others, have participated in the funding round.

According to the ministry of corporate affairs filings reports, The startup has allotted 42,610 CCPS at a nominal value of Rs 30 per share and a premium of Rs 18,336 per share to 21 firms.

In July 2016, The startup first raised $2 million (or about Rs 13.5 crore) in its Seed funding round led by US-based Nexus Ventures.

Following, In July 2017, Jumbotail raised $8.5 million (or about Rs 54 crore) in its first tranche of Series A funding round led by Kalaari Capital and existing investor Nexus Ventures.

In Mid 2019, Jumbotail raised Rs 90 crore (or about $12.7 million) in its Series B funding round led by Nexus Ventures and Kalaari Capital with the participation of other investors, including Heron Rock Fund, Hedgewood, Capria Ventures, NBK Ventures, and William Jarvis, as reported.

In November 2019, Jumbotail had raised its most recent investment of Rs 14.20 crore (or about $1.9 million) in its ongoing Series B funding round from the US-based Nexus Ventures and Capria Ventures.

The startup may use this fresh capital to enhance its platform technology providing seamless support and service to its customer and clients, expanding its team to provide services more efficiently.

Source: STARTUPNEWS