JOKR valued at $800M after Series D funding

JOKR, the online grocery delivery company, is demonstrating resilience amidst fluctuating industry landscapes. The company recently secured $50M in Series D funding, which, while lower than its previous $1.3B valuation, is still impressive at $800M post-investment.

CEO Ralf Wenzel assures this adjustment is in line with market trends, and that the company's board structure remains unchanged.

• Who's Got Their Back: This financial round was led by Convivialité Ventures, Pernod Ricard's investment arm, and welcomed new investor Lombard Odier along with existing supporters such as G Squared, GGV, Balderton Capital, Monashees, Greycroft, Tiger Global Management, and JOKR's founders.

• Fun Fact: The funding round was unplanned but came about due to strategic interest from other retail and consumer goods firms.

• What Comes Next: JOKR's current positioning and the new capital inflow signal a promising journey toward profitability and a stronger stance in Brazil's projected $80B grocery market by 2026.

• Finance Status: The company has shown significant financial improvement and monthly growth, with over 25% gross profit and no subsidies on single grocery orders.

• Current Programs: JOKR's advertising program, constituting 10% of its total revenue, was exceptionally well-received by investors.

• Growth: The company now provides a comprehensive grocery suite in Brazil, transitioning from instant to scheduled deliveries and expanding its product range tenfold from 1,500 to 10,000 items.

The fresh funding is expected to increase JOKR's grocery service offerings and bring in new expansion opportunities like exploring reentering Latin American markets it previously exited or contemplating going public.