Bengaluru: B2B marketplace and new retail platform Jumbotail on Monday said it has raised Rs 151 crore equity capital led by Artal Asia.
Heron Rock, Sabre Investment, Arkam Ventures, Jarvis Reserve Fund, Reaction Global, VII Ventures and others also participated in the round.
Jumbotail said it plans to invest funds in scaling its suite of go-to-market (GTM) products and services for new and emerging brands to reach mass-market consumers via its kirana store network.
“Jumbotail is the fastest and capital efficient way for brands to access over 100 million urban middle-class consumers via the Kirana stores on its platform. We expect to be fully profitable on an operational basis across our entire network before the end of 2024,” said Ashish Jhina, Co-founder and COO, of Jumbotail.