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Jumbotail turns unicorn after $120 Mn Series D round

EntrackrEntrackr · 17d ago
Jumbotail turns unicorn after $120 Mn Series D round
Medial

Jumbotail, a B2B marketplace and new retail platform for food and grocery, has raised $120 million in a funding round led by SC Ventures, the innovation and investment arm of Standard Chartered Plc. Existing investors including Artal Asia participated in the round. This brings Jumbotail’s total capital raised to $263 million, according to a press release shared with Entrackr. According to Entrackr analysis, Standard Chartered Group will hold an 8.12% stake after investing $81.6 million, while existing investor Artal Asia will own 15.15% following a $5.1 million infusion. Entrackr estimates Jumbotail’s valuation at around $950 million with this investment and expects it to surpass $1 billion after the full $120 million raise. Jumbotail has declined to comment on its valuation. The development comes soon after the acquisition of Solv India by Jumbotail for an undisclosed amount. Founded in 2015, Jumbotail runs an online wholesale marketplace, providing product distribution and a suite of ancillary services for both sellers and buyers. On the other hand, Solv caters to the diverse commerce and fintech requirements of India’s small retailers (kiranas) and MSMEs. “This is a transformative moment in our journey,” said Ashish Jhina, co-founder and COO 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.” While Jumbotail has not yet filed its financials for FY24 and FY25, its revenue from operations grew 2.17X to Rs 819 crore in FY23. However, losses also more than doubled to Rs 264 crore in the same year.

Purplle raises $120 Mn led by ADIA; to buyback ESOPs worth $6 Mn

EntrackrEntrackr · 1y ago
Purplle raises $120 Mn led by ADIA; to buyback ESOPs worth $6 Mn
Medial

Online beauty and grooming products marketplace Purplle has raised Rs 1,000 crore (approximately $120 million) in a round led by a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) with participation from other investors. The latest round includes a combination of primary and secondary shares. While the company did not disclose its current valuation, media reports estimate it at around $1.2-$1.3 billion. In addition to the funding round, Purplle has announced its largest-ever employee stock ownership plan (ESOP) liquidity program worth Rs 50 crore ($6 million). As per the company, it has granted ESOPs to 320 employees to date, and 85 of them have liquidated ESOPs worth Rs 75 crore ($9 million) over three buyback programs. In June 2022, Purplle raised $33 million in its Series E round from South Korea’s Paramark Ventures and turned unicorn with a valuation of $1.1 billion. The Manish Taneja-led company is primarily a marketplace but also sells its own labels such as Good Vibes. The company serves the beauty needs of customers in tier II, III and micro-markets, expanding beyond metro cities. Purplle claims that it is operationally profitable and has grown its GMV by around 4x over the last three years. It expects to grow its online platform faster than the industry while scaling offline stores and improving profitability. For the fiscal year ending March 2023, Purplle reported Rs 475 crore in operating revenue along with a loss of Rs 230 crore, according to startup data intelligence platform TheKredible. In the previous fiscal year (FY22), its revenue and losses stood at Rs 219 crore and Rs 203 crore, respectively. This will be the second secondary transaction for Purplle within a year. In October 2023, JSW Ventures exited the Gurugram-based company through a sale to Manipal Education & Medical Group Family Office (MEMG).

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