Jokr, the Berlin-based rapid-delivery firm, has successfully notable $50m in a Series D funding round, aiming to amplify its presence in the thriving Latin American online grocery sector.
The prominent investment round was spearheaded by Convivialité Ventures, with the post-money valuation of Jokr climbing to an impressive $800m, according to a report from FinSMEs.
Notably, the funding attracted a consortium of investors: Lombard Odier, G Squared, GGV, Balderton Capital, Monashees, Greycroft, and Tiger Global.
Operating under the leadership of CEO Ralf Wenzel, Jokr boasts a unique proposition. The platform, concentrated on hyper-local dimensions, ensures rapid delivery of a diverse product suite. From essential supermarket and convenience items to exclusive local products and pharmaceuticals, Jokr is solidifying its stance as the go-to platform for immediate necessities, especially groceries.
With this fresh influx of capital, Jokr has charted out ambitious expansion blueprints. Their vision encompasses broadening their operational horizons and reaching out to a wider audience.
Earlier in March 2022, Jokr clinched a valuation of $1.2bn post a Series B funding round that saw an inflow of $260m.
Their strategic alignment became apparent last June when they terminated their operations in New York and Boston, choosing to direct their energies towards the Latin American demographic.
This pivot also led them to cease their European delivery services, consolidating their presence in countries like Brazil, Chile, Colombia, Mexico, and Peru.
On the backdrop of the pandemic, Latin America’s eCommerce realm is witnessing an unprecedented surge. The traditionally dominant brick-and-mortar model has given way to a booming eCommerce landscape, catalysed by the pandemic-induced social distancing norms.
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