Funding round
JOKR Series C
JOKR, which works in online grocery retail in Luxembourg, raised $50M in a Series C round announced on 6 Feb 2023, led by G Squared, at a $1.30B post-money valuation. 4 firms took part, 4 of them already investors. It is JOKR's third venture round on record; the one before was a Series B in Dec 2021.
$50M
Amount raised
$1.30B
Post-money valuation
4
Investors
1 lead
1.1x
Step-up from the Series B
$1.20B in Dec 2021
3.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced JOKR at $1.30B after the new money, 1.1 times the $1.20B of its Series B (Dec 2021). The $50M bought investors about 3.8% of the company. It came 14 months after JOKR's Series B. It is 9.4% of the $530M JOKR has raised in the venture rounds on record. JOKR raised again 7 months later: a Series D round of $50M in Sep 2023, at $800M post-money.
JOKR's funding rounds
JOKR has 4 venture rounds on record. This one is highlighted.
- Series A 1 Jul 2021, led by Tiger Global, Balderton Capital and GGV Capital $170M
- Series B 2 Dec 2021, led by GGV Capital, Balderton Capital and Tiger Global $260M$1.20B post-money
- Series C this round 6 Feb 2023, led by G Squared $50M$1.30B post-money
- Series D 20 Sep 2023, led by Convivialité Ventures $50M$800M post-money
Investors
Who put money in
G Squared led the round with 3 other firms. G Squared, GGV Capital, Tiger Global Management and HV Capital had backed JOKR before.
Lead investor
- G Squared backs 40 venture-backed companies existing investor
Also in the round
- GGV Capital existing investor
- Tiger Global Management existing investor
- HV Capital backs 124 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 2 in Groceries, then Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Groceries | 2 Jun 2022 | $70M | not disclosed | New Enterprise Associates |
| Groceries | 23 Mar 2022 | $120M | not disclosed | Northstar and Alpha JWC Ventures |
| Aspire Payment Processing & Point of Sale | 1 Feb 2023 | $430M | not disclosed | not named |
| Florists | 7 Feb 2023 | $156M | not disclosed | Aljazira Capital and Rainwater Partners |
| Groceries Delivery | 7 Feb 2023 | $133M | not disclosed | Kingdom Holding and Uni-Ventures |
| Tech Companies | 16 Feb 2023 | $105M | not disclosed | not named |
| Electronical Components Manufacturing | 23 Feb 2023 | $70M | not disclosed | Morgan Creek Digital |
| Biotechnology | 14 Feb 2023 | $55M | not disclosed | ArrowMark Partners |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did JOKR raise in its Series C round?
JOKR raised $50M in its Series C round, announced in Feb 2023.
Who led JOKR's Series C round?
G Squared led it, with GGV Capital, Tiger Global Management and HV Capital.
What was JOKR's valuation at the Series C round?
$1.30B post-money.
Did JOKR raise again after this round?
Yes: a Series D round in Sep 2023 of $50M at $800M post-money.