French start-up Jow has raised $20m in a funding round led by Eurazeo, along with existing investors Headline, DST and Stride.VC. Jow, which was founded in 2017 by Jacques-Édouard Sabatier, Antoine Maillard, Franck Maurin and Brice Audrain, offers an app that allows users to order groceries online based on a list of meals. The user selects the number of people, their tastes, kitchen equipment and the partner distributor. The app then offers a list of recipes and automatically selects the ingredients. Finally, the order preparation and delivery are managed by the chosen retailer.
Since its commercial launch in 2018, Jow has delivered ingredients for 20 million meals, and the funding will be used to expand its range of recipes and network of partner distributors, accelerate recruitment, and support international expansion.
Eurazeo is a French investment firm that specializes in private equity, real estate and private debt, and it manages more than €20bn ($23.5bn) in assets. Headline is a European venture capital firm that invests in technology-driven companies, while DST is a global investment firm that focuses on late-stage venture capital and growth equity investments. Stride.VCis a venture capital firm that invests in early-stage technology companies.
Jow's app is part of the growing trend of online grocery shopping, which has seen a surge in demand due to the COVID-19 pandemic. With this funding, Jow aims to capitalize on this trend and expand its reach in the increasingly competitive online grocery market.