Jokr Raises $170M To Beat Amazon At The Grocery Delivery Game
Ultra-fast grocery delivery service Jokr has raised $170M in Series A funding to expand in the Americas and Europe. The company, founded earlier this year, facilitates deliveries via a network of small distribution points serviced by bicycle-riding delivery workers.
“We are true believers in the fact that the world needs a new Amazon, a better one, a more sustainable one, one that appreciates local areas and products," Jokr CEO Ralf Wenzel told Tech Crunch.
Wenzel previously founded the delivery service Foodpanda, which later was acquired by Delivery Hero. Jokr promises delivery of certain items (as many as 3,000 in some cases) in certain urban neighborhoods within 15 minutes from the time of order, at the same price as a customer would pay in a store.
The expansion of Jokr and ultra-fast delivery services like it promises to spur the demand for distribution space in dense urban areas. In the case of Jokr, the company is actively seeking urban spots ranging from 2,500 SF to 5K SF with double-door access on ground floors.
Currently, Jokr is offering deliveries in a handful of cities in North America, Europe and Latin America, including New York, where it has its regional HQ and 10 delivery hubs. It is also making deliveries in Warsaw, Vienna, Mexico City and Lima, Peru.
In the United States, the company is planning to expand in the near future in Boston and various California cities, Forbes reports.
GGV Capital, Balderton Capital and Tiger Global Management led the funding round. They were joined by Activant Capital, Greycroft, Fabrice Grinda’s FJ Labs, as well as Kaszek and Monashees, which are Latin American tech-specialized VC firms. HV Capital, the first institutional investor to support Jokr, also joined the round.
