Cajoo Expands Its 15-Minute Grocery Deliveries With $7M Raise
Meet Cajoo, a new French startup that has raised a $7.3 million (€6 million) funding round. The company wants to make it easier to order groceries from your phone and receive them 15 minutes later. It is launching in Paris today.
“I left Bolt around mid-August and I’m launching a company with two co-founders focused on 15-minute deliveries,” co-founder and CEO Henri Capoul told me. Thanks to his experience at Bolt, he probably knows a thing or two about logistics and operating a marketplace at scale. Guillaume Luscan and Jeremy Gotteland are the two other co-founders.
What makes Cajoo different from what’s out there? In France, there’s no Instacart or pure player in the grocery delivering space. Instead, many supermarket chains already offer deliveries. You can order from their website or app and get your groceries the next day or two days later.
And it is launching today in Paris in the 9th arrondissement and around. Overall, Cajoo thinks it’ll require 10 micro-fulfillment centers to cover Paris and it’s going to take a few months.
Cajoo is also benefiting from the current economic crisis as there are a ton of empty stores, empty garages and small warehouses that are currently waiting for a new owner.
“The differentiating factor of our model is that we offer products at market price. It’s the same price as a Monoprix or Carrefour Express store with delivery fees under €2,” Capoul said.
The company doesn’t plan to generate most of its revenue from delivery fees. Those are minimum fees so that you don’t order one item at a time. Instead, the company will get margins from products themselves, like any retailer.
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