Jumbotail's USD 120 Million Boost: Pioneering India's B2B Marketplace
Jumbotail, a leading B2B e-commerce firm, secured $120 million in funding, boosting its total to $263 million. The company plans AI enhancements and acquisition of Solv India, broadening its impact on India's retail landscape by serving MSMEs and brands across multiple sectors.
- Country:
- India
Jumbotail, a prominent Indian B2B e-commerce company, has successfully raised $120 million in a recent funding round spearheaded by SC Ventures, the innovation and investment division of Standard Chartered. This new influx brings Jumbotail's total raised capital to $263 million, positioning it for accelerated growth.
The firm plans to utilize the fresh funds to enhance its AI capabilities and maintain its leading role in the marketplace. It has also completed its acquisition of Solv India, expanding its reach significantly. The acquisition, approved by the Competition Commission of India, enables Jumbotail and Solv to aid over 500,000 small retailers across 400+ Indian cities.
The merger of Jumbotail and Solv is set to revolutionize the B2B marketplace, providing MSMEs and brands with advanced platforms to scale rapidly and efficiently. Their combined efforts focus on responsible innovation and financial inclusion, crucial elements for driving India's entrepreneurial growth.
(With inputs from agencies.)
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