“This is not true, we are not acquiring or merging with Solv,” Jumbotail
cofounder and CEO Karthik Venkateswaran told Inc42 in late December 2024, when Inc42 reached out for a comment based on market speculations.
Exactly three months later, Jumbotail announced it would be acquiring Standard Chartered-backed Solv. In a joint statement, the companies said, “SC Ventures – Standard Chartered’s innovation, fintech investment and ventures arm, has agreed to the acquisition of its incubated venture, Solv India, by Jumbotail, one of…