Samreen Ahmad · · 1 min readIndia-based Jumbotail nets $18m amid tough B2B ecommerce market
Photo credit: Jumbotail
B2B ecommerce startups in India and Southeast Asia have been facing challenges in scaling up their businesses after the pandemic.
In December 2023, Indian unicorn Udaan laid off at least 100 employees after raising US$340 million, while two months earlier, Indonesia-based Ula announced that it was also cutting jobs and transitioning out of its inventory-led FMCG distribution business.
However, positive news comes from B2B startup Jumbotail, which has raised US$18.2 million in an equity round. Artal Asia, Heron Rock, Sabre Investment, Arkam Ventures, and others participated in the round.
Founded in 2015 by Karthik Venkateswaran and Ashish Jhina, the Jumbotail marketplace connects supermarkets and mom-and-pop grocery retailers with brands and staples producers.
With this funding round, the India-based company has raised a total of US$143 million. The fresh capital will be used for scaling Jumbotail’s suite of go-to-market products and services for new and emerging brands to reach consumers.
“We expect to be fully profitable on an operational basis across our entire network before the end of 2024,” said Jhina, who also serves as COO of Jumbotail.
See also: Ula, Udaan’s struggles cast shadow on B2B ecommerce’s future
Editing by Miguel Cordon and Dhania Putri Sarahtika
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