B2B marketplace for food and groceries Jumbotail has raised $120 million (approximately Rs 1,028 crore) in a Series D financing round led by SC Ventures, the innovation and investment arm of Standard Chartered Plc.
Artal Asia, an affiliate of global equity investment firm Invus, also participated in the round. While Jumbotail did not disclose its valuation, reports indicate it has achieved unicorn status, with a valuation surpassing $1 billion following the funding.
Entrackr estimates Jumbotail’s valuation at $950 million prior to the round, with the full $120 million infusion pushing it past the $1 billion mark, making it India’s fifth unicorn of 2025, following Netradyne, Porter, Drools, and Fireflies AI.
Jumbotail’s board previously approved a resolution to raise Rs 734 crore ($87 million). According to Entrackr, Standard Chartered Group will hold an 8.12% stake after investing $81.6 million, while Artal Asia will own 15.15% following a $5.1 million investment. These shareholding patterns may shift upon completion of the round. Jumbotail declined to comment on its valuation.
The funding follows Jumbotail’s acquisition of Solv India, a B2B commerce and financial services platform incubated by SC Ventures, for an undisclosed amount. The acquisition, approved by the Competition Commission of India (CCI) on May 27, 2025, enhances Jumbotail’s capabilities across food, grocery, apparel, home furnishings, footwear, and toys.
“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.”
SC Ventures, an early backer of Solv India, has reaffirmed its confidence in the B2B sector by investing in Jumbotail.
Gautam Jain, a member of SC Ventures and Jumbotail’s board, stated, “This integration represents a leap forward in our shared mission to empower MSMEs through technology and financial inclusion, which is a core theme for SC Ventures. Jumbotail and Solv now form a platform committed to responsible innovation with real impact for India’s entrepreneurs.”
Jumbotail plans to use the capital to hire top talent in category management, product management, decision science, AI/ML, marketing, supply chain, and finance, while building AI-native solutions to strengthen its market leadership.
The company, founded in 2015 by S. Karthik Venkateswaran and Ashish Jhina, operates a full-stack B2B platform, including a marketplace, tech-driven warehousing, last-mile delivery, and fintech services for payments and credit to kirana stores. The Solv acquisition expands its offerings beyond groceries, particularly in SME credit solutions.
