Jumbotail, a leading B2B marketplace that connects India’s traditional kirana stores with FMCG suppliers and brands, is on the verge of making a major leap. The company is in the final stages of raising $120 million (around ₹1,000 crore) from investors including SC Ventures and Invus. This funding round will push Jumbotail’s valuation past the coveted $1 billion mark, establishing it as the first unicorn of 2025.
Sources familiar with the deal revealed to Moneycontrol that the round could close within a month. Investors backing the fresh capital infusion include both new and existing participants. SC Ventures, the innovation and investment arm of Standard Chartered Bank, leads the round. Invus, a long-time backer of Jumbotail, also doubled down on its commitment.
Strategic Momentum Through Acquisition
Jumbotail gained fresh momentum last week when it completed the acquisition of Solv, another B2B e-commerce platform backed by SC Ventures. This acquisition added significant scale, network access, and strategic value. Solv’s network of MSMEs and its strong credit offerings now merge with Jumbotail’s extensive logistics and sourcing platform.
The acquisition not only expanded Jumbotail’s reach but also brought Gautam Jain, Chairman of Solv India and a key operating member of SC Ventures, onto Jumbotail’s board. Jain’s experience in building and scaling B2B platforms will support Jumbotail’s next phase of growth.
The combined entity—Jumbotail and Solv—now commands a pre-money valuation of $900 million (about ₹7,650 crore). The new funding will lift its post-money valuation slightly over $1 billion, allowing the startup to enter the unicorn club.
A Massive Leap in Valuation
Jumbotail’s valuation has tripled in less than four years. In 2021, the startup held a valuation of around $300 million. Solv, which had once reached a valuation of $200 million, now folds into Jumbotail’s ecosystem to create one of the most formidable B2B marketplaces in the country.
This new valuation signifies more than just financial growth—it reflects increased investor confidence in the B2B commerce space. The fresh capital will not only bolster operations but will also allow Jumbotail to intensify its battle against competitors like Udaan and Elasticrun.
Jumbotail plans to use the funds for deeper penetration into Tier 2 and Tier 3 markets, where kirana stores still face sourcing inefficiencies. The startup will also invest heavily in strengthening its supply chain, expanding warehousing infrastructure, and enhancing its credit offerings to merchants.
Market Position and Competition
Founded in 2015 by Karthik Venkateswaran and Ashish Jhina, Jumbotail has steadily built a robust ecosystem around kiranas. Venkateswaran, an army veteran and Stanford graduate, partnered with Jhina, a third-generation apple farmer and IIT Delhi alumnus. Together, they aimed to solve India’s fragmented food and grocery supply chain.
The founders placed kirana stores at the center of their strategy. Jumbotail’s platform allows small retailers to order inventory digitally and receive it via a managed logistics network. The startup also extends working capital loans to retailers through its fintech offerings.
With this model, Jumbotail directly competes with Udaan, backed by Lightspeed Venture Partners. Udaan currently leads the B2B space but faces increasing pressure. Elasticrun, which SoftBank and Prosus support, also poses strong competition. However, other rivals such as Dealshare and Shopkirana have scaled back operations recently.
This narrowing field gives Jumbotail a clearer path to expand and dominate the mid-market B2B segment. The fresh capital will allow the company to accelerate merchant acquisition and deepen its footprint across underserved regions.
SC Ventures and Invus Show Long-Term Conviction
SC Ventures, already an investor in Solv, deepened its exposure to Jumbotail through this deal. By leading the round and placing a key member on the board, SC Ventures signals strong belief in the company’s long-term growth story.
Invus, the New York-based investment firm, had earlier backed Jumbotail in multiple rounds. The firm returns as a key participant in this funding, reflecting its sustained conviction in the startup’s model, team, and vision.
The backing from SC Ventures and Invus also signals a broader trend. Investors now favor scalable, revenue-generating businesses with clear market leadership. After a cautious 2023 and 2024, venture capital firms have started writing bigger checks again—but only for companies with real traction. Jumbotail fits that bill.
Fundraising Context and Industry Implications
Jumbotail’s $120 million round stands out in today’s funding climate. Few large-ticket deals have closed in recent months. Investors have exercised caution due to global macro uncertainty, slow IPO activity, and tight capital flows.
In this context, Jumbotail’s raise sends a strong signal to the ecosystem. The deal ranks among the largest recent B2B investments and reinforces faith in India’s SME digitization wave.
Moneycontrol had earlier reported that other startups like Dhan and Juspay also plan to raise rounds of $100 million or more at unicorn valuations. If those deals close successfully, India could witness a mini-resurgence in its unicorn creation cycle.
India’s startup ecosystem now includes 111 unicorns, the third-largest count globally. Startups such as Krutrim, Perfios, Porter, Rapido, Ather Energy, and Moneyview earned unicorn status last year. Jumbotail appears poised to open the account for 2025.
The Path Ahead
Jumbotail doesn’t plan to slow down. With this funding, the company will aggressively expand into new states, deepen its credit underwriting capabilities, and strengthen partnerships with large FMCG brands. The acquisition of Solv gives Jumbotail access to a broader merchant base and stronger data-driven decision-making capabilities.
The startup will also likely expand its private label strategy. Over the last few years, Jumbotail has introduced affordable, high-quality private label products that generate better margins and more loyalty among kirana owners. These brands will now receive greater investment, marketing, and distribution support.
The company plans to double its warehouse capacity and increase the number of delivery hubs. Jumbotail also wants to improve its tech stack, focusing on AI-powered supply chain forecasting, smart credit scoring models, and predictive customer behavior analytics.
Conclusion
Jumbotail’s upcoming unicorn status represents more than a financial milestone. It signals a resurgence of investor confidence in B2B commerce and underscores the value of solving for India’s kirana economy. By raising $120 million and integrating Solv’s capabilities, Jumbotail positions itself as a market leader in a rapidly consolidating sector.
The startup has weathered market volatility, outlasted several competitors, and built a scalable business model grounded in real demand. With new funding, a broader platform, and strong investor support, Jumbotail now holds the momentum to shape the future of Indian retail—one kirana at a time.