On-demand grocery startup JOKR has raised a $170m Series A to transform shopping habits

JOKR, a New York-based delivery startup launched just four months ago, is announcing a $170m Series A fundraising — part debt, part equity — led by Balderton, Tiger Global, and GGV Capital. 

It now has 100 dark stores across Latin America, North America, and Europe (10 in Warsaw and five in Vienna), which stock 1000s of grocery items ready to be delivered to customers in under 15 minutes. It’s hiring fast, expanding into new cities regularly, and has a leadership team stuffed with takeaway food delivery veterans (in this case, the founding team of German-headquartered Foodpanda). 

But there, cofounder and CEO Ralf Wenzel insists, the similarities end with its dozens of competitors. 

“We’re not only a convenience business, the next 7/11 iteration. We’re more comprehensive than that,” he says, noting that the company wants to expand its offering beyond pantry staples and fresh food to cosmetics, toys, and electronics. “JOKR is the second generation of e-commerce — driving personalization to a new degree and taking out all the middlemen.”

“It’s a next-gen Amazon.” 

The original article is https://sifted.eu/articles/jokr-170m-series-a/.