JOKR operates in Brazil as DAKI, offering instant deliveries and newer scheduled "shopping mission" 30-minute time-slot deliveries while expanding its assortment to about 10,000 products. It has developed an advertising business that allows brands to promote on the DAKI platform, which now accounts for roughly 10% of revenue. The company reports month-over-month growth, increased retention and ordering frequency, and management says it is above 25% gross profit with no single grocery order subsidized. JOKR previously exited some Latin American markets and the U.S. to refocus on a Brazil-only strategy and is expanding in existing metropolitan areas. The new capital is intended to put the company on a path to profitability and could enable a return to prior markets or other strategic options, including a public listing. Management highlights its advertising analytics and direct brand relationships in Latin America as a competitive advantage that attracted investor interest. JOKR operates an instant grocery delivery platform with vertically integrated supply and a technology stack it says leverages data science to improve customer experience. The company emphasizes a high Net Promoter Score (consistently above 80) and vertical integration to source locally and maintain competitive pricing. Since being founded in 2021, JOKR has rapidly expanded across Latin America but has pulled back from several markets and now operates in Brazil, Mexico and Peru. The company hit gross-profit status in April but remains loss-making overall, with losses narrowed to single-digit millions per month after exiting unprofitable markets. Brazil accounts for roughly 50% of JOKR’s business and is gross-margin positive; management says the business in Brazil is thriving and expects company-wide full profitability by Q1 2024. JOKR has raised capital to prioritize a smaller set of geographies where it can balance growth and profitability rather than pursuing broad geographic spread. JOKR operates an instant grocery delivery platform powered by local warehouse hubs, offering rapid, frictionless deliveries and a curated app experience. Launched eight months ago, the company now runs around 200 hubs in 15 cities including New York, Mexico City and Sao Paulo, with some hubs achieving operational profitability. Management says gross merchandise volume is growing roughly 15% week-over-week and that more than 50% of new customers come organically, though detailed financials were not disclosed. The product has been updated toward greater personalization and a broader grocery assortment including fresh produce, meat, dairy and packaged foods rather than only convenience items. JOKR plans to deploy capital to deepen neighborhood-level coverage (including potentially hundreds more hubs around Sao Paulo), expand into additional cities across Brazil, Mexico, Colombia and Chile, and grow further in the United States. The company will also invest in customer acquisition, marketing, data science, procurement and supply-chain technology, and aims to be carbon neutral within its processes by the end of next year. JOKR operates a fast grocery and retail delivery platform that promises 15-minute delivery and emphasizes sourcing and selling local products through its app. The company vertically integrates procurement and is building its own distribution warehouses to cut out middlemen. JOKR positions sustainability and local supply chains as core differentiators alongside instant delivery. Its team includes people who created foodpanda and Delivery Hero. The business launched operations across the U.S., Latin America and Europe three months ago and is live in nine cities across Brazil, Mexico, Colombia, Peru, Poland and Austria, and launched in New York last month. JOKR recently closed a large funding round to accelerate rapid geographic expansion and product buildout.

Total raised

$530M

Funding rounds

4

Latest round

Series D

Latest activity

Sep 2023