Mexico-based online grocery retailer Jüsto has secured $12m in a bridge round featuring Femsa Ventures, the corporate venturing arm of beverage bottler Femsa, TechCrunch reported yesterday.
Foundation Capital led the round, investing together with fellow venture capital firms Mountain Nazca, Quiet Capital and 500 Startups.
Founded in 2019, Jüsto runs an online portal where Mexican consumers can order groceries for home delivery from inventory kept at its warehouses.
The funding will aid expansion in Mexico and regional markets such as Colombia, in addition to building warehouse capacity to cope with more online groceries shopping amid Covid-19.
Femsa Ventures co-led the startup’s $10m seed round with Mountain Nazca and Foundation Capital in October 2019. Foundation Capital had led a pre-seed round of undisclosed size for it the previous month that included Quiet Capital, Vas Ventures and 500 Startups.