Powered by local stores, JOKR joins 15-minute grocery run with $ 170 million Series A – TechCrunch
âWe sincerely believe that the world needs a new, better, more sustainable Amazon that values ââlocal areas and products. It’s one thing to pretend you’re on the verge of replacing Amazon (just like its founder goes into space), but JOKR Founder and CEO Ralf Wenzel certainly thinks his company might stand a chance. And he is raising a lot of money to achieve this goal.
Today, the fast-growing grocery and retail delivery platform closed a massive $ 170 million Series A funding round. The cycle comes three months after the company began operations in the United States, Latin America and Europe. The JOKR team is made up of people who have created both foodpanda and Delivery Hero, so from the outside at least they have what it takes to build a great company.
The round was led by Led by GGV Capital, Balderton Capital and Tiger Global Management. He was joined by Activant Capital, Greycroft, Fabrice Grinda’s FJ Labs, as well as Latin American tech venture capitalists Kaszek and Monashees, as well as HV Capital, the leading institutional investor.
Based in New York City, where it launched last month, JOKR plans to roll out to cities across the United States, Latin America and Europe. At present, it is live in nine cities, in Latin American countries, Brazil, Mexico, Colombia, Peru, as well as Poland and Austria in Europe.
Wenzel said, âThe investment we announced today will allow us to continue to expand at an unprecedented rate as we continue to make JOKR the premier platform for a new generation of online shopping, with instant delivery, a focus on local product offerings and more. sustainable delivery and supply chains. We are proud to be able to partner with such a distinguished group of international technology investors to help us seize the enormous opportunity before us. “
JOKR’s business case is that it allows small local businesses to sell their products, from other local businesses, through the platform, thus expanding their reach without the need for complex logistics and delivery networks. But this local aspect also integrates sustainability into the model.
Hans Tung, Managing Partner of GGV Capital and Newly Appointed Member of the Board of Directors of JOKR, said: âRalf has built a All-Star Food Delivery Team that will transform the supply chain from retail to detail. The combination of food delivery experience and sophisticated data capabilities that optimize inventory allocation and shipping, sets JOKR apart. We look forward to working with the team on their mission to make retail more instant, more democratic, and more sustainable. “
JOKR joins other fast delivery grocery providers like Gorillas and Getir in offering a 15 minute delivery time for supermarket and convenience goods, pharmaceuticals, but also local ‘exclusive’ products that are not available in regular supermarkets. Although, so far it only has one app on Google Play.
Speaking in an interview with me, Wenzel said, âWe are close to the Instacart equivalent, with a strong focus on groceries. Our offering is significantly wider than Gorillas because we don’t just focus on convenience and all kinds of different grocery categories, we are getting closer to a supermarket offering, so the biggest competitor would be traditional supermarkets. , offline supermarkets, as well as online grocery proposals. We integrate vertically and therefore buy directly, cut out middlemen and build our own distribution warehouses. “