Jumbotail to acquire SC Ventures incubated Solv India

Entrackr · 19d

SC Ventures, the innovation and investment arm of Standard Chartered, has agreed to sell its incubated venture, Solv India, to B2B marketplace Jumbotail. Jumbotail and Solv India, together, will become a multi-category B2B e-commerce platform that supports the diverse commerce and fintech needs of India’s small retailers (kiranas), as well as micro, small, and medium enterprise (MSME) entrepreneurs—helping them compete effectively in the modern age. Brands and manufacturers across categories will benefit from efficient and scalable access to India’s middle-class consumers via these small retailers. The acquisition will enhance Jumbotail’s strengths across the entire food and grocery value chain, while integrating Solv India’s differentiated capabilities in apparel, home furnishings, footwear, and toys. Established in 2015, Jumbotail operates a B2B e-commerce marketplace for food and grocery. It also offers solutions to help kirana entrepreneurs modernize and digitize their stores. In 2019, SC Ventures incubated Solv India to provide a digital commerce and supply chain finance platform for MSMEs. The combined entity will be led by S. Karthik Venkateswaran and Ashish Jhina, Co-Founders of Jumbotail. Gautam Jain will join the board of Jumbotail, representing SC Ventures.