JOKR, the instant grocery delivery platform has recently raised USD $50M in a series C round. The investment comes after a challenging few months, where the startup shut down operations in multiple Latin American countries including Colombia and Chile.
In Colombia, JOKR faced strong competition from Rappi, especially from the startup’s dark stores and its fast delivery service Turbo. Other strong players in Colombia’s market are Cornershop and Uber’s Merqueo.
In November 2022, Jokr ceased operations in Chile. The company states it will continue to operate normally in Mexico, Peru, and Brazil, where it operates under the name Daki. Its strategy will focus on “strengthening its presence in the markets that have reached a larger scale and, in this way, strengthen our path to profitability.”
The startup founded in 2021 by Ralf Wenzel recently raised USD $50M in a series C round led by G Squared and GGV Capital, and included the participation of Tiger Global Management and HV Capital. JOKR has raised a total of USD $480 million in equity and debt since it was founded in 2021.
