jüsto closes us$12 million to grow in mexico and launch into colombia
It seems that Jüsto does not stop. Last year it received a Series A investment round of US$65 million, acquired the Peruvian Freshmart, arrived in Brazil and announced its first physical store in Peru. It seems that its momentum will continue, as it just announced a Series B round of US$152 million.
General Atlantic led the fundraising. Tarsadia Capital, Citius, Arago Capital, Foundation Capital and Quiet Capita also participated. With the new capital, Jüsto reaches US$244 million in funding, according to Crunchbase.
In addition to this announcement, the Mexican digital supermarket reaffirmed its interest in reaching Chile and Colombia this year. This is something it had already mentioned in early March.
At that time, Jüsto mentioned that its plan for 2022 is to grow by 5x. After the new announcement, today we know that the company recorded a growth of around 500% during 2021 and that its plan for this year is to reach between 300% and 400%.
What’s Next for Jüsto?
The new capital will be used to invest in technology such as artificial intelligence, data science and infrastructure that will enable them to improve their operations. More than 50% of the new capital will be allocated to Mexico; the rest will be split between Brazil and Peru.
As for its arrival in Colombia and Chile, Jüsto is analyzing its strategy to enter at the right time. For the time being, the company will focus on the cities and countries where it already has a presence in order to customize its products in each place. As Alejandro Sisneaga, co-founder of the company, told Contxto last November: customization has been key to Jüsto’s growth.
The startup is also engaging with small and medium-sized farmers to buy their products directly from them. Jüsto has a particular focus on this issue. This is because it is a direct channel towards achieving sustainability and waste reduction goals. It could also mean a reduction in merchandise investment costs.
So far, Jüsto has between 7,000 and 8,000 products and its main categories are fruits, vegetables, proteins and cleaning products.
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