Jumbotail Raises $120M Series D, Nears Unicorn Status with Solv India Acquisition

India’s Jumbotail, a B2B retail and wholesale platform focused on food and grocery, has raised $120 million in its Series D round. The funding was led by SC Ventures, the investment arm of Standard Chartered Plc, with additional support from existing investor Artal Asia. With this round, Jumbotail’s total capital raised now stands at $263 million.

Although the company has not officially disclosed its valuation, reports indicate that this funding milestone has elevated Jumbotail to unicorn status. The fresh capital will support the startup’s growth plans as it continues to expand its presence in India’s B2B e-commerce sector.

Entrackr estimates Jumbotail’s valuation at about $950 million with the current investment and anticipates it will cross the $1 billion mark after the full $120 million raise. The company has declined to comment on its exact valuation.

Founded in 2015, Jumbotail operates a digital wholesale marketplace providing products and services to both sellers and buyers, primarily serving kiranas and MSMEs. Solv complements this by offering commerce and fintech solutions tailored for small retailers and MSMEs, covering categories beyond groceries, such as apparel, electronics, and home furnishings.

“This is a transformative moment in our journey,” said Ashish Jhina, co-founder and COO of Jumbotail. “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.”

Jumbotail plans to deploy the new capital to develop AI-native solutions and enhance its technology, supply chain capabilities, and hiring across key functions like category management, AI/ML, and decision science. Gautam Jain from SC Ventures will join Jumbotail’s board to support this growth.

Despite rapid revenue growth — Jumbotail’s operating income more than doubled to Rs 819 crore in FY23 — losses also widened to Rs 264 crore. Similarly, Solv reported a revenue of Rs 132 crore in FY24 with a loss of Rs 375 crore. While both remain unprofitable, the combined entity aims to lead India’s B2B commerce transformation with a sustainable and technology-driven approach.