Ralf Wenzel

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A mere four months after launching, grocery delivery startup Jokr, just raised a massive $170 million Series A round, one of the largest in history.

German entrepreneur Ralf Wenzel started the company in March after leaving his post as managing partner at Softbank Group.

“We just celebrated our 100-day anniversary,” he told Insider on Tuesday.

And this Series A, led by GGV Capital, Europe’s Balderton Capital and Tiger Global Management, was its second recent infusion of cash.

Jokr raised an undisclosed seed round from Softbank and Tiger Global Management. Pitchbook puts it at $100 million, although Wenzel disputed that figure and declined to correct it. He also declined to disclose his startup’s valuation.

Why take on what could be nearly $270 million in venture investment for a fledging startup? Because investors were begging Wenzel to take their money. “We got strong inbound interest from investors,” Wenzel said. “We have not been actively going out raising.”

Tuesday’s $170 million investment ranks in the top 20 largest Series A rounds in history, according to Pitchbook. It’s a staggering amount even in a year that has been shattering fundraising records; The average Series A has been $42 million in 2021, up from $33 million in 2020, …read more

Source:: Businessinsider – Technology

      

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