Jokr in Talks to Raise Up to $50 Million at $1.3 Billion Valuation

Instant-delivery startup Jokr is in talks with investors to raise between $35 million and $50 million in Series C funding at a pre-money valuation of $1.3 billion, according to two people familiar with the company’s fundraising efforts. That represents a slight increase from its valuation of $1.2 billion set last December.

The fundraising comes at a critical time for fast-delivery startups. Several, including Jokr, have pulled out of the U.S. market in recent months amid heavy losses. Jokr gave up its U.S. operations in June and decided to focus its efforts on Latin America, where labor costs are lower and competition is less intense.