Bengaluru-based B2B ecommerce platform Jumbotail has entered the coveted unicorn club after raising $120 million (approx. INR 1,028 crore) in a Series D round led by SC Ventures, the investment arm of Standard Chartered. The round also saw participation from Artal Asia. Though the company hasn’t officially disclosed its valuation, multiple media reports confirm that the latest funding has taken its post-money valuation beyond the $1 billion mark.
With this, Jumbotail becomes the fifth Indian startup in 2025 to attain unicorn status, joining the likes of Netradyne, Porter, Drools, and Fireflies AI.
Founded in 2015 by Karthik Venkateswaran and Ashish Jhina, Jumbotail operates a B2B marketplace primarily for groceries and food, targeting mom-and-pop kirana stores across the country. The company offers a full-stack suite of go-to-market services, connecting emerging brands with over 500,000 small retailers in 400+ Indian cities and towns.
As part of its growth strategy, Jumbotail also confirmed the acquisition of Solv India, a B2B marketplace incubated by SC Ventures. The Competition Commission of India (CCI) had approved the transaction just weeks earlier. Solv’s platform supports MSMEs in managing their end-to-end supply chain across multiple categories including FMCG, apparel, electronics, home furnishings, and footwear. It also leverages AI/ML solutions for seamless buyer-supplier interactions.
“Together with Solv, we now help thousands of brands and MSME sellers reach over half a million retailers across India,” said Ashish Jhina, cofounder of Jumbotail, in a statement.
The acquisition marks a significant expansion move for Jumbotail, allowing it to diversify beyond grocery into non-grocery categories, further strengthening its B2B offerings. However, the merger has also raised eyebrows, particularly due to Solv’s financial performance and recent leadership exit. Solv reported INR 132 crore in revenue and INR 375 crore in losses for FY24. Former CEO Amit Bansal, who was ousted before the acquisition, had publicly expressed reservations about the deal, having earlier outlined IPO plans for Solv in 2026.
According to regulatory estimates, Jumbotail’s FY24 operating revenue is pegged at INR 1,200 crore, although the company is yet to file official financials. Before this round, the startup had raised approximately $143 million, and this latest round brings its total funding to $263 million. It counts Nexus Venture Partners, VII Ventures, Heron Rock, Akram Ventures, Alteria Capital, and InnoVen Capital among its investors.
Prior to the Series D funding, Jumbotail’s valuation was estimated between $900-$950 million. With the latest infusion, SC Ventures is expected to hold a 30% stake in the company, with SBI Holdings exiting the cap table.
Despite both entities being loss-making, the merger has significantly boosted Jumbotail’s valuation, triggering conversations in the ecosystem about financial sustainability versus market positioning.
With robust investor backing, a deepening retail network, and now a broader category footprint, Jumbotail is aiming to consolidate its position as one of India’s leading B2B ecommerce platforms in the next growth phase.
News Credits- Startup Story