Bangalorebased Jumbotail 44msinghtechcrunch: Jumbotail, an online wholesale marketplace for grocery and food items, has received a hefty investment from China’s Huidong Jiyuan. The Bangalore-based startup’s Series B round has so far been valued at about $44M. Jumbotail will use this funding to further expand its reach across India and Southeast Asia. As a result of this investment, the company is able to provide India’s first online market that helps customers make purchases right at their homes via home delivery or pickup services. The company says it has already helped over 1 million customers buy groceries and more than 50,000 food items.
“Brick-and-mortar retail is facing increasing profitability pressure as well as rising inventory levels, thereby prompting the need for quality off-line alternatives. The ecommerce space in India lacks a robust and innovative way to help consumers make smarter purchases from quality brands at their own convenience,” says Sumit Agarwal, General Partner at Huidong Jiyuan in a statement.
The Series B round, which follows a $10.1M Series A round in January this year, will be used by Jumbotail to scale and build up its supply chain network, which is aimed at driving the company’s growth across all major markets it operates in. As of now, the startup does not sell mobile recharge products (which make up more than 70% of its sales) on its platform.
Founded in May 2012 by former IvyCap Ventures executives Sanjeev Saxena and Apan Damani, Jumbotail works with brand such as Godrej Nature’s Basket, Jet Airways and Fab India to offer over 55,000 products across its platform. The company plans to launch nearly 200 grocery stores in the next 12 months.
Jumbotail is among a number of Indian ecommerce startups to receive funding from Chinese investors in the last year or so. The two countries have seen a growing number of VC funds making investments in Indian startups, with Chinese organizations such as Tencent Holdings Ltd and Alibaba Group Holding Ltd having already made a significant impact on the ecommerce landscape in the country.
Founded in 2011 by Ehang founder Qing Wang and Yixing Capital founder Cao Dewang, Beijing-headquartered uSens has developed a range of finger-tracking technology for use in wearable devices, mobile phones and gaming consoles. The company has since begun to offer a range of AR-based mobile applications, which seek to bring added functionality to smartphone users.
uSens’ technology is already being used by companies such as VIVO, ZTE and LENOVO in the Chinese smartphone market. The company has also been developing a wide range of computer vision solutions for applications such as object recognition, gesture recognition and video analysis. To date, it claims to have received over $16M in funding.
Founded in 2012 by former Flipkart and Google India employee Manish Madhavapeddy, Bangalore-based Coupoff is an on-demand grocery delivery startup that allows customers to find the nearest store and place orders for groceries using a mobile app. Launched in 2011, Coupoff currently operates across Bengaluru, Gurgaon and Mumbai. The startup lists more than 50 stores, including Bibek Krishna Boutique, Brijnand Bakery & Sweets and Love Foods Stores.
The three-year-old startup has raised over $7M to date. It claims to have delivered close to 2.5 million orders from its network of over 700 stores, while in mid 2015 it said it had added stores in Pune and Mumbai under the ‘Coupoff Express’ brand. The company recently raised $2.5M in Series A funding, which was led by New Delhi-based Zerodha and Kae Capital.