Jumbotail, a B2B marketplace and new retail platform for food and groceries, raised $120 million in a funding round led by SC Ventures, Standard Chartered Plc's innovation and investment arm. Existing investors, including Artal Asia, participated in the round. This brings Jumbotail's total capital raised to $263 million, according to a press release.

Key Highlights

• Jumbotail raises $120 million Series D from SC Ventures and others, becoming India’s first unicorn of 2025.
• Valued at around $950 million pre-money, likely surpassing $1 billion post-raise, after acquiring Solv India. 

Meanwhile, its board has already approved a resolution to raise Rs 734 crore ($87 million). According to Entrackr analysis, Standard Chartered Group will own 8.12% after investing $81.6 million, while existing investor Artal Asia will own 15.15% after a $5.1 million investment. This stakeholding pattern may change after the round is completed. 

It is estimated that Jumbotail's valuation to be around $950 million with this investment, and it expects it to exceed $1 billion after the full $120 million raise. Jumbotail declined to comment on its valuation.

The development comes shortly after Jumbotail acquired Solv India for an undisclosed sum. The acquisition has already been approved by the Competition Commission of India.

Founded in 2015, Jumbotail is an online wholesale marketplace that provides buyers and sellers with a range of ancillary services in addition to product distribution. Conversely, Solv concentrates on the various fintech and commerce requirements of MSMEs and small retailers (kiranas) in India.

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"This marks a turning point in our journey," stated Ashish Jhina, co-founder and COO of Jumbotail. "In more than 400 Indian cities and towns, we currently work with Solv to help thousands of brands and MSME sellers reach over 500,000 small retailers."

Although Jumbotail has not yet submitted its FY24 and FY25 financial statements, its operating revenue climbed 2.17 times to Rs 819 crore in FY23. But in the same year, losses more than doubled to Rs 264 crore.