附近上门

Online supermarket raised its third round of capital in less than 12 months, this time, bringing in $65 million in Series A funding.

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闯眉蝉迟辞, which translates to 鈥渇air鈥� in Spanish, aims to provide high-quality products, fair practices, new distribution avenues to suppliers, and improved convenience by eliminating 鈥渢he middlemen鈥� in the supply chain.

, co-founder and CEO, started Mexico City-based 闯眉蝉迟辞 in 2019 as one of the country’s first vertically integrated, online grocery platforms with no physical store presence.

led the investment and was joined by existing investors and . Since being founded, 闯眉蝉迟辞 has raised a total of $100 million, according to 附近上门 data. This includes $17 million raised in several tranches last summer. The investment is being touted by the company as 鈥渢he largest Series A round raised in Latin America in the past decade.鈥�

鈥淲e were not actively looking for a round and were working on the relationships with funds we admired, which is how we started talking to General Atlantic,鈥� Weder told 附近上门 News. 鈥淲e are only 18 months into operations, but we feel General Atlantic will be a key partner for us as we expand 闯眉蝉迟辞 in Mexico and Latin America.鈥�

Weder intends to use the new funding to improve operations and last-mile logistics and technology, as well as continue the company’s geographic expansion throughout Mexico and into countries like Colombia.

According to the company, the existing grocery ecosystem in Latin America represents a $325 billion opportunity. Prior to the pandemic, adoption of online grocery stores was 1 percent in a competitive market full of big players, Weder said. The pandemic allowed the company to grow fast, earning 16 times its revenue in 2020 compared with 2019, he added. In July 2020, , acquired by in 2019, was reported by Statista as the with headquarters in Latin America. It attracted known investments of nearly , according to 附近上门 data.

鈥淥ur vision is to transform the industry using technology, data and fair practices so that it will be more agile and inclusive,鈥� Weder added. 鈥湸趁疾醭俅� was the first online grocer and first to not use plastic bags. We want to help users make better decisions so that they can save money and have alternatives. I鈥檓 really proud of what we have performed facing such a complex industry.鈥�

As part of the transaction, General Atlantic executives , managing director and head of its Mexico City office, and , vice president, will join Justo鈥檚 board of directors.

鈥淢exico is at an inflection point in its transition to a digital economy, and we see 闯眉蝉迟辞 as leading the way in the high-growth online grocery space with its technology-centric, mission-driven approach,鈥� Cervantes said in a written statement. 鈥淯nder Ricardo鈥檚 leadership, we believe 闯眉蝉迟辞 is positioned for significant expansion as it disrupts and transforms the legacy grocery value chain.鈥�

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