Bengaluru: Jumbotail, an online wholesale marketplace for food and grocery products, has raised ₹90 crore in a Series B round of funding led by Heron Rock, with participation from Capria Fund, BNK Ventures, and William Jarvis, as well as existing investors Nexus Venture Partners and Kalaari Capital. The online marketplace also has a fully integrated supply chain network of its own and a last-mile storefront delivery service. There are about 12 million kirana stores in India, controlling more than 95% of the $350 billion food and grocery market. Jumbotail is one of several startups in the business-to-business (B2B) wholesale supply space focused on kirana stores and other mom-and-pop store formats. Behemoths like Reliance Jio, Amazon and Walmart are also competing with tech startups to supply wholesale inventory to kirana stores.

Source: Mint June 12, 2019 10:30 UTC