Usuario:Marianasegura

Jüsto

Funding Rounds
Announced Date	Transaction Name	Fund Raised
Nov-19	Seed Round	$27M
Feb-21	Series A	$65M

Key Investors

General Atlantic, Foundation Capital, Mountain Nazca, FEMSA Ventures, Quiet Capital, Vas Ventures, 500 Startups, H20 Capital, SV Latam, and S7V.

-Company Overview-

Jüsto is a Latin American online grocery delivery service. It was launched in July 2019 and is based out of

Mexico City. Over the next 10 years it aims to become one of Latin America’s favorite supermarkets. It

believes it can do this by employing the best talent and developing technology, which will allow it to

compete with the largest retailers in the region.

Customers of the company use a Justo’s website or its mobile application to order groceries online.

Jüsticieros, as employees like to call themselves, secure and source the items from their warehouse and

deliver the basket to its consumers. The delivery may be scheduled for express, same-day and next-day

delivery. The platform offers 5,000+ products and provides a mix of both local and international brands.

Jüsto sources about one-third of its inventory from small farms and businesses that find it difficult to

otherwise sell into the larger grocery chains and will create a business-to-business channel to sell to

restaurants.

Jüsto, whose mantra is frescos siempre frescos (fresh, always fresh), aims to provide exceptional quality

products at fair prices. It prides itself on working directly with local suppliers to offer the freshest fruits,

vegetables, meat, and fish in the market. It recognizes that by working directly, produce does not spend

time on display, losing freshness. Jüsto is committed to reducing food waste and eliminating single-use

plastics. As a purely online retailer, it is leveraging algorithms to support this.

Jüsto currently operates and is based in Mexico City. The Company is planning to expand into 10+

Mexican cities before heading to Colombia, Peru, Brazil, Ecuador, and Chile on the list. Each country will

have its own automated micro-fulfillment centers (MFCs).

While the major retailers in the region offer delivery and partner with third party deliverers for rapid

deliveries, Jüsto benefits from owning the end-to-end process. Working with local producers quickens

the pace it can move produce from farm to shelf, enabling it to offer the freshest quality. Jüsto’s

business model removes the need for it to work with other intermediaries who eat into producers’

profits, allowing it to sell products at competitive prices.

As of June 2020, the company has raised about US$23 million from global investors including

Foundation Capital, Mountain Nazca, FEMSA Ventures, Quiet Capital, Vas Ventures, 500 Startups, S7V,

H20 Capital, SV Latam, among other unnamed funds and angels.

COVID-19 Impact

According to a press release, the COVID-19 pandemic transformed consumer buying habits virtually

overnight as online grocery shopping became nearly a universal lifeline due to lockdowns and social

distancing.

As the first supermarket with no physical stores in Mexico, Jüsto customers buy their groceries directly

from the platform and get them delivered right to their doorstep. Since the beginning of COVID-19,

Jüsto has seen 5x growth in orders.

Sources

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