July 6, 2017 / 5:52 AM / 18 days ago

Online grocery startup Jumbotail raises $8.5 million in funding

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FILE PHOTO: A cashier displays the new 2000 Indian rupee banknotes inside a bank in Jammu, November 15, 2016.Mukesh Gupta/File Photo

MUMBAI (Reuters) - Jumbotail, an Indian startup building an online wholesale marketplace for groceries, has raised $8.5 million in a funding round led by venture firm Kalaari Capital with the participation of Nexus Venture Partners.

The Bengaluru-headquartered company will use the new funds to enhance technology and operational capabilities, Nexus said in a statement on Thursday.

Founded in 2015 with a funding of $2 million by Nexus, Jumbotail has started operations in the southern city of Bengaluru and plans to gradually expand across the country.

Reporting by Sankalp Phartiyal; Editing by Rafael Nam

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