Quick commerce startup Jokr nabs unicorn status with mega funding round
Rapid delivery venture, Jokr, has landed $260 million in Series B funding and ventured into unicorn territory with a valuation of $1.2 billion.
It will use the cash to expand its business across the US and Latin America.
Jokr aims to bring people groceries and other consumer goods in 15 minutes from urban micro-fulfilment centres.
It last raised $170 million in July.
"Our customers in Latin America and the US love our instant delivery grocery offering, with GMV [gross merchandise value] having grown by an average of 15% every week," says Founder Ralf Wenzel.
"Today’s investment will enable us to continue delivering on our promise to create the ultimate shopping proposition."
"The Jokr team’s experience in scaling high growth businesses and their efficiency in execution set the company apart in its ability to simultaneously deliver a great consumer experience and rapid expansion," comments Hans Tung, Managing Partner GGV Capital, one of the Series B round’s investors.
"We look forward to being a part of the company’s continued growth in Latin America and the US as the company pursues its mission to make retail more on-demand, personalised and sustainable."
It’s Christmaaaaassssss!
Earlier this week, Yango Deli UK, the rapid grocery delivery arm of Russian tech giant Yandex, announced it was offering Christmas trees along with its usual mix of groceries and household staples.
The 5ft Norway spruce trees will be delivered within 15 minutes.
They are supplied by Pines and Needles, which was founded by brothers Josh and Sam Lyle in Scotland and made headlines when they provided a tree for Prince Harry and Meghan Markle in 2016.
“Ultrafast e-grocery companies are often thought of as snacks and drinks corner shops of the post-Covid era, but we are striving to be more than that by giving people back their time, which they would have otherwise spent doing large supermarket trips,” said Evgeny Chernikov, General Manager at Yango Deli UK.
