Jumbotail to Acquire SC Ventures-Incubated Solv India The new entity will enhance the accessibility of essential products for millions of small retailers while improving efficiency for brands and manufacturers targeting India's middle-class consumers.
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SC Ventures, the innovation and fintech investment arm of Standard Chartered, has agreed to sell its incubated venture, Solv India, to Jumbotail, one of India's leading B2B marketplaces.
The acquisition, pending regulatory approvals, will create a multi-category B2B e-commerce platform catering to India's small retailers (kiranas) and MSME BIZ Experiencess.
Jumbotail, established in 2015, operates a robust B2B marketplace for food and grocery, offering digital solutions to modernise kirana stores. Solv India, incubated by SC Ventures in 2019, specialises in digital commerce and supply chain financing for MSMEs across diverse categories like apparel, home furnishing, footwear, and toys.
By combining their strengths, the new entity will enhance the accessibility of essential products for millions of small retailers while improving efficiency for brands and manufacturers targeting India's middle-class consumers.
"India's kiranas and MSME BIZ Experiencess are the backbone of the economy. Jumbotail's expertise in food and grocery, combined with Solv India's capabilities in multiple categories, creates a powerful platform with immense growth potential," said Ashish Jhina, Co-founder and COO of Jumbotail.
Gautam Jain, Chairman of Solv India and Operating Member at SC Ventures, emphasised the transaction's impact on India's B2B ecosystem. "Solv India's journey under SC Ventures has demonstrated the power of business model innovation. Its integration with Jumbotail will drive financial inclusion and transform commerce for millions of underserved businesses."
Following the acquisition, Jumbotail's Co-founders, S Karthik Venkateswaran and Ashish Jhina, will lead the combined entity, with Jain joining Jumbotail's board as SC Ventures' representative.
Financial advisory for SC Ventures was provided by o3 Capital, with Trilegal serving as transaction counsel. The deal marks a major milestone in India's evolving B2B commerce landscape, strengthening Jumbotail's position as a leading player in the sector.
