Strategy Online wholesale marketplace Jumbotail raises Rs 90 crore in new funding June 17, 2019June 17, 2019 Web Sources Jumbotail, an online wholesale marketplace for food and grocery products, has raised Rs 90 crore in a series B funding round led by Heron Rock to fuel its expansion plans.The funding saw participation from Capria Fund, BNK Ventures, William Jarvis and existing investors Nexus Venture Partners and Kalaari Capital.Bengaluru-based Jumbotail offers services including mobile-based ordering application for kirana stores, an integrated supply chain network, and last-mile storefront delivery service. The startup also offers integration with point of sales (PoS) terminals, helping retailers in the unorganised sector to run their business through technology.Jumbotail, founded by Stanford classmates S Karthik Venkateswaran and Ashish Jhina, will use the funds to extend its market leadership by investing in artificial intelligence-driven operational excellence in supply chain, forward integration of the Jumbotail platform with PoS, integrating backward to farmers, getting on board new FMCG brands, and expanding its team. There are an estimated 12 million kirana stores in India, controlling more than 95% of the $350 billion (approx Rs 24 lakh crore) food and grocery market. Jumbotail is targeting this segment with its technology-led products.“We have built supply chain and delivery capabilities to serve kirana stores at a large scale with the widest selection of staples and FMCG products. The top FMCG brands and staples producers in the country work directly with Jumbotail as we provide them with capabilities that none of their other channels offer,” said Jhina, the venture’s chief operating officer.