Indian B2B food and grocery marketplace lands $4.8m from Alteria Capital

Jumbotail, an Indian business-to-business (B2B) marketplace for food and groceries, has raised 350 million rupees (US$4.8 million) in its latest round of funding.

More funding details

• Lead investor: Alteria Capital
• Stage: Unspecified

More company updates

• The fresh capital will be used to expand the company’s operations across the country, fund its working capital requirements, and scale its fintech business.
• The company said it is also looking to hire more employees across different segments in order to fuel its expansion plans.
• According to Jumbotail, it serves over 50,000 kiranas (small mom and pop shops in India) through its B2B marketplace platform, warehousing and last-mile delivery supply chain network, and a fintech platform for payment and credit solutions.
• In October 2020, the firm raised US$11 million in its series B2 round led by Canadian VC fund Heron Rock.
• Jumbotail helps kiranas maintain their stock by supplying them with products directly from brands.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.