Latest news with #AshishJhina
The Hindu
8 hours ago
- Business
- The Hindu
Jumbotail raises $120 mn, acquires B2B platform Solv India
Jumbotail, a Bengaluru-headquartered B2B marketplace and a platform for food and grocery, on Monday raised $120 million in a funding round led by SC Ventures, the innovation and investment arm of Standard Chartered Plc. The platform also completed its acquisition of Solv India, a B2B commerce and financial services platform incubated by SC Ventures. The deal was approved by the Competition Commission of India (CCI). Existing investors, including Artal Asia, participated in the round. With this, Jumbotail has so far raised $263 million. Ashish Jhina, Co-founder and COO of Jumbotail, said, '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.'' Jumbotail said it would invest the capital to build AI-native solutions and capabilities to scale up its markets. Jumbotail and Solv, together being horizontal B2B e-commerce platforms, serve kiranas, MSMEs, and brands across food and grocery, apparel and fashion, home furnishing, toys and sports, footwear, and consumer electronics.
Economic Times
9 hours ago
- Business
- Economic Times
Jumbotail's unicorn round; Infy on employees' mental health
B2B firm Jumbotail has become a unicorn with its latest $120 million funding round. This and more in today's ETtech Top in the letter:■ Meta's poaching spree■ Ola Electric lags legacy players■ India's creator-founder boom Jumbotail hits $1 billion valuation in new funding Jumbotail cofounders S Karthik Venkateswaran (L) and Ashish Jhina Bengaluru-based business-to-business (B2B) ecommerce marketplace Jumbotail has become India's fifth unicorn of the year after raising $120 million in a funding round led by SC Ventures, the investment arm of Standard Chartered. Deal details: Before this round, the firm was valued at around $900–950 million. Jumbotail joins Netradyne, Porter, Drools and BlueStone in the 2025 unicorn club. The company has also completed its acquisition of Solv India, a B2B commerce and financial services platform incubated by SC Ventures. Why this matters: Jumbotail's valuation milestone stands out at a time when the B2B ecommerce sector has faced subdued investor interest and cooling valuations. Also Read: Udaan closes latest funding round at $114 million led by UK's M&G, Lightspeed IPO-bound Infra Market raises $50 million in debt from Mars Growth Capital cofounders Aaditya Sharda (L) and Souvik Sengupta Construction materials platform has raised an additional $50 million in debt financing from Mars Growth Capital, bringing its total borrowing from the firm to $150 million. The funds will support its expansion plans as it gears up for an IPO. Tell me more: This is the company's second fundraise in 2025. In January, it secured $125 million to drive growth in both Indian and overseas markets. The new deal also includes a five-year extension of the terms of its earlier $100 million loan. IPO watch: The Mumbai-based firm plans to file its draft red herring prospectus (DRHP) this fiscal and raise Rs 2,500 crore through an IPO, likely in Q3 or Q4 of FY26. To this end, it has roped in bankers and legal advisors. Credit rating agency India Ratings downgraded long-term debt instruments from A-/Negative Outlook to BBB+/Negative Outlook, citing concerns around debt refinancing, liquidity pressures, and negative cash flow from operations in FY25. Also Read: raises $121 million in pre-IPO funding; B2B startup now valued at $2.8 billion 'Mind your health, please': Infosys cautions employees against long remote hours Infosys has started sending personalised emails to employees clocking unusually long hours from home, urging them to prioritise a healthier work-life balance. Why it matters: Young tech professionals are increasingly vulnerable to health issues, including stress-induced heart problems linked to long and erratic workdays. Cardiologists warn that unmanaged stress is a silent killer. Details: Employees receive monthly summaries if they average more than 9.15 hours of work per day. The emails encourage taking regular breaks, delegating tasks wherever possible, and disconnecting outside working hours. The push is part of Infosys' hybrid policy, which requires employees to be in the office for at least 10 days a month. The big picture: Workplace stress has become a national talking point, with concerns even raised in Parliament. As India's workforce adapts to hybrid work, companies are under pressure to take a more active role in supporting employee well-being. Also Read: Genpact issues clarification on 10-hour workday after backlash Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: ETtech Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and employees. The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Interested? Reach out to us at spotlightpartner@ to explore sponsorship opportunities. AI talent war intensifies as OpenAI executives slams Meta for aggressive hiring Meta's Mark Zuckerberg seems like a man possessed. His aggressive push to snap up top AI talent is starting to ruffle feathers at rival firms, such as OpenAI. Driving the news: After Meta poached at least eight researchers, OpenAI's chief research officer, Mark Chen, voiced his frustration in an internal memo, according to Wired . 'I feel a visceral feeling right now, as if someone has broken into our home and stolen something. Please trust that we haven't been sitting idly by,' Chen wrote on Slack. Doubling down: Over the weekend, The Information reported that Meta added four more senior researchers from OpenAI to its 'superintelligence' team: Shengjia Zhao, Jiahui Yu, Shuchao Bi, and Hongyu Ren. Interestingly, all four studied in China. They join Alexander Kolesnikov, Xiaohua Zhai, and Trapit Bansal, who moved from OpenAI's Zurich lab to Meta last week. Meta-morphosis: In its urgency to catch up with OpenAI and Google in the race for artificial general intelligence, the deep-pocketed Meta has been going for broke. It invested $14.3 billion for a 49% stake in Scale AI, bringing its founder, Alexandr Wang, on board. Wang's arrival followed a lukewarm reception to Llama 4, Meta's latest large language model, which was launched after multiple delays. Meta has also explored acquiring AI startups and labs, like Safe Superintelligence, Perplexity, Thinking Machines Lab, and Runway AI. Also Read: Meta's $14.8 billion Scale AI deal latest test of AI partnerships Ola Electric stays third as TVS, Bajaj lead EV two-wheeler race in June Bhavish Aggarwal's Ola Electric, once a front-runner in India's EV two-wheeler market, remained in third place in June, trailing TVS Motor and Bajaj Auto. Upping the game: The Bengaluru-based firm clocked 18,527 units in June, almost unchanged from May's 18,541 units. Its market share edged up to 19.6%, but remained below the 20% mark for the second consecutive month. TVS Motor held the top spot with 25.4%, followed by Bajaj Auto at 22.8%. Rival watch: Ather Energy, Ola's recently listed competitor, gained momentum, with 13,617 units sold in June. Its market share rose from 13.4% to 14.4%. The company is also betting big on retail, with plans to nearly double its footprint to 700 experience centres by the end of FY26. Compounding woes: Ola has faced mounting scrutiny over the past few months, with questions around inflated sales data, product quality issues, and missing valid trade certificates at several dealerships. Also Read: Ola Electric Q4 net loss doubles to Rs 870 crore as revenue slumps 62% From reels to retail: India's influencers turn startup founders India's biggest content creators aren't just chasing likes anymore; they're pursuing market share. A rising tribe of influencers is jumping from the 'gram to the boardroom, building their own beauty and fashion brands from scratch. Driving the news: Influencer marketing in India set to hit Rs 3,375 crore by 2026. But the real story is these creators flipping trust into full-blown D2C businesses, taking on celeb-endorsed brands with products that feel personal. Kusha Kapila launched the shapewear brand Underneat. Nitibha Kaul founded the skincare line AltK Beauty. Neetu Bisht is running Netose Clothing. Sunny Chopra unveiled the Ksunch fashion label. The strategy: Target micro-communities of 1-10 million fans, and convert that connection into serious consumer spend. The playbook: This mirrors a global trend with names like MrBeast (Feastables), Kylie Jenner (Kylie Cosmetics), and Emma Chamberlain (Chamberlain Coffee) leading the way. However, with 800 million internet users and a young, regional fanbase, the Indian market is ripe for a creator-led boom. The bottom line: With trust and relatability in tow, this new wave of brands is betting that authenticity, agility and storytelling will trump big-budget marketing. For now, that bet is paying off. Updated On Jun 30, 2025, 07:44 PM IST
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Business Standard
15 hours ago
- Business
- Business Standard
Jumbotail raises $120 million in funding round led by SC Ventures
B2B e-commerce firm Jumbotail has raised $120 million (about Rs 1,027 crore) in a funding round led by the investment arm of Standard Chartered, SC Ventures, the company said on Monday. With this fresh funding, the company has raised $263 million so far. "Jumbotail, India'sB2B marketplace and New Retail platform for food and grocery, has raised USD 120 million in a funding round led by SC Ventures, the innovation and investment arm of Standard Chartered Plc," the company said in a statement. The company will invest the capital to build AI-native solutions and capabilities to cement its leadership, the statement said. Jumbotail also announced the completion of its acquisition of Solv India, which is a B2B commerce and financial services platform incubated by SC Ventures. The deal was approved by the Competition Commission of India (CCI). "Together with Solv, we now help thousands of brands and MSME sellers reach over 5,00,000 small retailers across more than 400 cities and towns in India," Ashish Jhina, Co-founder and COO of Jumbotail, said. Jumbotail and Solv together are serving kiranas, MSMEs, and brands across food and grocery, apparel and fashion, home furnishing, toys and sports, footwear, and consumer electronics. "This integration represents a leap forward in our shared mission to empower MSMEs through technology and financial inclusion, which is a core theme for SC Ventures. Jumbotail and Solv now form a platform committed to responsible innovation with real impact for India's entrepreneurs," Gautam Jain, member of SC Ventures, said. Both companies will open new opportunities for brands to quickly and efficiently scale nationally by leveraging their e-commerce platforms, credit, and go-to-market/ marketing solutions. "With strong fundamentals, a clear path to profitability and a motivated mission-driven team, Jumbotail and Solv are together well positioned to lead India's B2B commerce transformation across categories of mass market consumption," Jumbotail Co-founder and CEO, S Karthik Venkateswaran, said.
