Jumbotail, a leading B2B marketplace for food and grocery, has secured $120 million in a fresh funding round led by SC Ventures, the investment arm of Standard Chartered Plc. The round also saw participation from existing investors, including Artal Asia, the company announced on Tuesday.
While the company did not disclose its current valuation, Jumbotail was valued at approximately $1 billion post this latest infusion. Prior to the round, the company had a pre-money valuation of around $900 million. The post-money valuation, following the $120 million capital raise, now slightly exceeds $1 billion.
This marks a significant leap from Jumbotail’s earlier valuation of around $300 million in 2021, and also reflects the strategic advantage gained through its recent acquisition of Solv—a smaller B2B player previously valued at $200 million. Moneycontrol had first reported on March 27 about Jumbotail’s $120 million fundraise and earlier on February 12 about its acquisition of Solv.
Ashish Jhina, Co-founder and COO, Jumbotail, called the development a pivotal milestone. “This is a transformative moment in our journey. Together with Solv, we now help thousands of brands and MSME sellers reach over 500,000 small retailers across more than 400 cities and towns in India,” he said.
The integration of Solv, which had previously received backing from SC Ventures, underscores the investment firm’s sustained confidence in the B2B commerce space. “This integration represents a leap forward in our shared mission to empower MSMEs through technology and financial inclusion, which is a core theme for SC Ventures,” said Gautam Jain, Member of SC Ventures and a board member of Jumbotail. “Jumbotail and Solv now form a platform committed to responsible innovation with real impact for India’s entrepreneurs.”
Jumbotail, traditionally focused on vertical B2B e-commerce in groceries and related categories, is expected to expand its capabilities significantly with Solv under its fold, particularly in providing credit and financial services to small and medium enterprises (SMEs).
To support this next phase of growth, the company also announced plans to aggressively ramp up hiring across key verticals including category management, product management, decision science, AI/ML, marketing, supply chain, and finance.
The funding and strategic consolidation position Jumbotail as a dominant force in India’s B2B e-commerce ecosystem, with a strong focus on driving scale, innovation, and financial inclusion for MSMEs across the country.
