Jumbotail, a B2B marketplace for food and grocery, has raised Rs 151 crore ($18.2 million), while Sprih, a carbon emissions management platform, has raised $3 million in a seed round. Separately, Malabar Investments is in talks with investors of Sugar Cosmetics to acquire a stake, according to media reports.
B2B marketplace Jumbotail raises $18.2m
Jumbotail, a business-to-business (B2B) marketplace for food and grocery products, has raised Rs 151 crore ($18.2 million) in a Series C3 round.
The round was led by Artal Asia Pte. Ltd. Heron Rock, Sabre Investment, Arkam Ventures, Jarvis Reserve Fund, Reaction Global, VII Ventures and others.
The firm plans to use the funding to scale its suite of go-to-market products and services for new brands to reach mass-market consumers via its kirana network.
Founded in Nov 2015, Jumbotail claims to connect nearly FMCG and staples brands and sellers to kirana stores across 50 cities and towns in India via its full-stack e-commerce model consisting of its B2B e-commerce marketplace platform and its warehousing and logistics supply chain network.
Climate tech firm Sprih raises $3m from Leo Capital
Sprih, a carbon emissions management platform in India, has raised $3 million in a seed funding round, led by early-stage VC firm Leo Capital.
Founded in 2022, Sprih is a climate technology platform constructed on an AI foundation, designed to assist companies in streamlining their path towards sustainability. Its customers include Indigo Paints, Hero Motors, Arvind SmartSpaces, Espi Industries, and InfoBeans.
In February this year, Singapore-headquartered Leo Capital received backing from the fund-of-funds Dubai Future District Fund (DFDF) for its third vehicle, which has a corpus of $125 million.
Malabar Investments eyes stake in Sugar Cosmetics
Malabar Investments, an India-focused investment fund, is in talks with early-stage backers of Mumbai-based Sugar Cosmetics to acquire a stake in the company for Rs 80-100 crore ($9.6-12 million) in a secondary transaction, the Economic Times reported on Tuesday.
If a deal is finalised, it is likely to value the company at about Rs 2,900 crore (approximately $350 million), and could see partial exits from Sugar Cosmetics’ early investors such as RB Investments and India Quotient, and a few angel investors and family offices, the report added.
“It is part of a larger secondary sale exercise… Malabar Investments has held detailed discussions with the company and the investors to enter Sugar’s cap table,” said one of the persons cited in the report.
Malabar Investments has previously backed consumer-focused startups such as Boat, Bombay Shaving Company and the travel portal Ixigo.