The Mexican online supermarket Jüsto has raised $152M in a Series B round. Tarsadia Capital, Citius, Arago Capital, Foundation Capital, and Quiet Capital participated in the round. This funding will help Jüsto to grow its technology and infrastructure and expand to other countries in Latin America.
The company recorded a 500% growth last year and is looking forward to opening its first physical store in Peru. Jüsto will invest funds in technologies such as Artificial Intelligence, Data Science, and infrastructure to improve its operations in Mexico, Brazil, and Peru:
“A little more than 50% of the investment will go to Mexico, the rest to Brazil and Peru; within the investment in Mexico, obviously in the technology part, all this type of infrastructure development (will receive) about 30%, also in the expansion we are thinking of placing an important amount of capital, in the development of medium and small suppliers, in general in infrastructure to optimize the logistics chain,” explains Ricardo Weder, Jüsto’s CEO.
Their first physical store will be a hybrid: the front will be a regular supermarket, and the back will host the technological infrastructure for online delivery. The company aims to offer an omnichannel experience for customers.
Although Jüsto’s priority is to consolidate its position in the markets where the company is already present, they are considering expanding to countries such as Colombia and Chile. The company’s goal is to transform the industry by providing an improved shopping experience and offering fresh produce.
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