India-based online food marketplace Jumbotail has secured $14.2m in series B3 funding from investors including processed food producer Nutresa, TechCrunch has reported.
Venture capital group VII Ventures led the round, which also featured Veronorte, Nexus Venture Partners, Discovery Ventures, Jumbofund, Klinkert Investment Trust and Peter Crosby Trust.
Jumbotail provides a range of business-to-business services for local convenience stores widely known as Kiranas in India. It offers an online marketplace platform for groceries and food products, as well as payment and credit, e-commerce and supply chain services.
The company had raised $40m prior to the series B3 round, which increased its total equity funding to about $54m to date, including $2m from Nexus India Capital Advisors in 2016. Kalaari Capital and Nexus Venture Partners provided $8.5m in series A funding the following year.
Jumbotail received $12.7m in a June 2019 series B round led by Heron Rock that also featured Nexus Venture Partners, Capria Fund, BNK Ventures, Kalaari Capital and private investor William Jarvis, before Nexus Venture Partners invested $2m four months later.
Jumbofund led the company’s $11m series B2 round in October 2020, investing with Heron Rock, Nexus Venture Partners, Science Engineering and the Environment, Pimpernel Holdings India, E Analytics Partners India and undisclosed others.
Asset manager Schindler Asset Management’s SchindlerAM Ventures vehicle has also named Jumbotail as a portfolio company.