B2B marketplace Jumbotail becomes India's newest unicorn startup after raising over Rs 1,000 crore

B2B marketplace and new retail platform Jumbotail has raised $120 million or over Rs 1,000 crore in a fresh funding round led by SC Ventures, the investment arm of Standard Chartered Plc. Existing investor Artal Asia also participated in the round.

While the startup did not disclose its exact valuation, media reports indicated that Jumbotail has achieved unicorn status. Before this round, the Bengaluru-based startup's valuation reached around $900 million.

SC Ventures' involvement is particularly notable, as it was an early backer of Solv, a smaller rival that Jumbotail has now acquired. The startup first announced the acquisition in late March 2025. Later in May, the Competition Commission of India approved the acquisition.

The integration of Solv has helped Jumbotail extend its footprint into credit and fintech services tailored for India’s vast base of small and medium enterprises (SMEs).

“This is a transformative moment in our journey,” said Ashish Jhina, co-founder and chief operating officer 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.”

“This partnership reflects SC Ventures commitment of advancing financial inclusion and empowering micro-small and medium enterprises (MSMEs) — the economic backbone of the markets we serve,” said Alex Manson, CEO of SC Ventures. “MSME entrepreneurs will be central to shaping a resilient, inclusive and efficient retail ecosystem in India.”

The combined entity will be led by Jumbotail co-founders S. Karthik Venkateswaran and Ashish Jhina. Gautam Jain will join the board of Jumbotail, representing SC Ventures.

“Rooted in a shared vision of responsible innovation with real impact for India’s entrepreneurs, the platform will empower India’s small retailers and MSMEs through a tech driven B2B ecommerce ecosystem,” said Gautam Jain, Chairman of Board, Solv India and Operating Member, SC Ventures. “The combined Jumbotail and Solv India platform will help expand and enhance India’s growing B2B ecommerce, which is expected to account for 5% of India’s estimated $6 trillion economy by 2030.”

Founded in 2015, Jumbotail offers a full-stack platform that includes an online wholesale marketplace, supply chain infrastructure, and financial services such as working capital credit. Solv, before the acquisition, specialised in SME commerce and embedded fintech.

The new unicorn startup plans to expand its workforce. It will accelerate hiring in category management, product and decision science, artificial intelligence and machine learning, marketing, supply chain, and finance.