Kalaari Capital and Nexus Invest $8.5 Million In Jumbotail



Kalaari Capital and Nexus Invest $8.5 Mn In Jumbotail

Bengaluru-based food and grocery wholesale marketplace, Jumbotail, has raised $8.5 million (around Rs 55.12 crore) in series-A funding led by Kalaari Capital and Nexus Venture Partners. Nexus Venture Partners had earlier invested $2 million (around Rs 13 crore) in the company. Jumbotail was founded by Stanford alumni, Karthik Venkateswaran and Ashish Jhina in 2015. 

Bala Srinivasa, Partner, Kalaari Capital, said, "About 98% of India’s food and grocery consumption is via kirana stores. We are excited by Jumbotail’s ability to eliminate information asymmetry, aggregate previously unavailable demand-and-supply data, and significantly improve economic outcomes for manufacturers, brands, financial institutions and kirana owners."


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