DLA Piper advises London-based dark supermarket Jiffy on USD28m Series A investment round

DLA Piper has advised Jiffy, a dark supermarket with ultrafast delivery in London, on its USD28 million Series A investment round led by Denmark’s private equity firm Heartland, US venture capital fund Flint Capital, the family office of the Bukhman brothers (founders of Ireland-based video game publisher), as well as its existing investors, Russia’s private equity firms Baring Vostok and LVL1. The Series A funds will be used for expansion within London and potentially into other urban locations in the UK.

Founded in November 2020 by Vladimir Kholiaznikov (ex-CEO of Russia-based e-grocery store X5 Food Tech) and Artur Shamalov (founder of Russia’s food vending machine startup DC Daily), Jiffy has cloud stores in each London borough and delivers groceries using eco-friendly e-bikes within a 3 kilometres radius in just 15 minutes with no minimum order size and no delivery slots to pick.

DLA Piper advised Jiffy and its founders on every stage of the investment deal. The Moscow-based Corporate team was led by partner and global co-chair of Emerging Growth and Venture Capital Leo Batalov, assisted by legal director Andrei Sheetkin, associate Alexandra Braterskaya and paralegal Alexandra Khvorostyanova.