London’s Jiffy picks up £2.6M seed to enter the grocery dark store race

This post is by Steve O’Hear from Fundings & Exits – TechCrunch

Another online grocery delivery and “dark store” operator breaks cover today: London-based Jiffy, which aims to deliver fresh groceries and household essentials in around 15 minutes, has raised £2.6 million in seed funding as it readies for launch.

Backing the upstart, which already faces a plethora of better funded competitors, is venture capital fund LVL1 Group, with participation from AddVenture, TA Ventures, Vladimir Kholiaznikov, and angel investors Oskar Hartmann, Alexander Nevinskiy and Dominique Locher.

Jiffy says it will use the injection of capital to launch its first stores in London, as early as this month. It plans to make the service available in Westminster, Waterloo, Lambeth, Battersea, Clapham Town, Shoreditch, Bethnal Green, Hackney, Whitechapel, Stepney Green, and Leytonstone.

The company will then launch a further 20 local fulfilment hubs across the U.K. later this year, and I understand is already out fundraising again. On its deck is likely a slide highlighting an executive team with online and offline retail chops, including former managers from Sainsbury’s and Deliveroo.

“We live in 2021 when you can purchase a ticket to Mars, but you still can’t get your groceries delivered on demand when you need them,” says Jiffy founder Artur Shamalov, who has previously started several companies in the food and delivery space. “The online grocery shopping experience is frustrating for most U.K. customers, as slots are often unavailable for days and weeks in advance, and some stores charge a premium fee for a ‘rapid’ delivery that still takes up to two (Read more…)