The latest series B3 round also saw participation from Nutresa, Veronorte, Jumbofund, Klinkert Investment Trust, Peter Crosby Trust, Nexus Venture Partners, Discovery Ventures, and a group of HNIs and industry leaders, a statement said.
Jumbotail will use the funds to hire talent, scale its core B2B marketplace to new geographies across India, expand its network of J24 stores, grow its private label product portfolio and to extend its Go-To-Market services to more FMCG brands seeking entry into kirana stores and standalone supermarkets across the country, it added.
"Jumbotail is at an inflection point in its growth trajectory. We will use this capital to scale the business to new regions, to double down on our J24 store network and to launch a suite of services to help FMCG brands go to market exponentially faster and at the lowest cost," Jumbotail co-founder Ashish Jhina said.
The company is also looking at bringing in more top talent across the entire company to power its "explosive growth", he added.
Jumbotail serves 30,000 kirana stores via its full stack e-commerce model consisting of its B2B marketplace platform, a warehousing and last-mile delivery supply chain network, and a fintech platform for payment and credit solutions to kirana store owners.
Jumbotail's new retail platform transforms kirana stores into modern omni-channel convenience grocery stores under the J24 brand.
This offers kirana retailers a full suite of in-store technology and insights, daily fulfilment of thousands of products, a B2C online store as well as loyalty solutions to better connect retailers to their consumers, in addition to omni-channel integrations with hyperlocal platforms such as Dunzo and Swiggy.