Jokr Raises $170M to Compete in 15-Minute Grocery Delivery

A New Contender Emerges in the Rapid Delivery Market

Ralf Wenzel, founder and CEO of JOKR, expresses a firm conviction that the market is ripe for a new e-commerce giant, one that surpasses Amazon in sustainability and local focus. This ambition is backed by substantial financial investment, positioning JOKR as a serious challenger.

Significant Funding Secured

JOKR has recently finalized a $170 million Series A funding round, a considerable sum that will fuel its expansion plans. This funding arrives just three months after the company initiated operations across the United States, Latin America, and Europe.

Experienced Team at the Helm

The JOKR team boasts a strong pedigree, comprised of individuals instrumental in the success of both foodpanda and Delivery Hero. This prior experience lends credibility to their ability to construct a large-scale, successful business.

Investment Details

The funding round was spearheaded by GGV Capital, Balderton Capital, and Tiger Global Management. Additional participation came from Activant Capital, Greycroft, FJ Labs, Kaszek, monashees, and HV Capital, the company’s initial institutional investor.

Geographic Expansion Plans

Headquartered in New York City, where it launched last month, JOKR intends to extend its services to numerous cities throughout the U.S., Latin America, and Europe. Currently, the platform operates in nine cities spanning Brazil, Mexico, Colombia, Peru, Poland, and Austria.

Wenzel’s Vision for JOKR

According to Wenzel, the recent investment will facilitate rapid expansion and the development of JOKR into a leading platform for a new era of online shopping. This includes instant delivery, a commitment to local products, and more environmentally responsible delivery and supply chains.

Empowering Local Businesses

JOKR’s core proposition centers on enabling small, local businesses to broaden their reach by selling their products through the platform. This eliminates the need for these businesses to independently manage complex logistics and delivery systems, fostering a more sustainable model.

GGV Capital’s Perspective

Hans Tung, managing partner at GGV Capital and now a JOKR board member, highlights the team’s expertise in food delivery and their innovative approach to the retail supply chain. He emphasizes the company’s sophisticated data capabilities, which optimize inventory and dispatch, as key differentiators.

Competitive Landscape

JOKR joins a growing field of fast-delivery grocery services, including Gorillas and Getir, offering 15-minute delivery of supermarket items, convenience goods, and pharmaceuticals. However, JOKR distinguishes itself by also providing access to “exclusive” local products unavailable in traditional supermarkets. The JOKR application is accessible via the Apple App Store and Google Play.

Differentiating Factors and Future Strategy

Wenzel positions JOKR as comparable to Instacart, with a strong emphasis on grocery offerings. He notes that JOKR’s product range is more extensive than Gorillas’, approaching the breadth of a full supermarket. The company aims to compete directly with both offline and online grocery retailers through vertical integration and direct procurement.