Dutch online grocery store Picnic raises €430M
Dutch online grocery platform Picnic has secured a substantial €430 million in fresh funding from its existing investors. This latest investment underscores the continued growth of the e-commerce sector in Europe and the increasing demand for sustainable delivery solutions. The funding will primarily fuel the expansion of Picnic's operations, particularly in Germany, where it already claims market leadership. The investment round includes contributions from major players such as German supermarket giant Edeka, The Bill and Melinda Gates Foundation Trust, and Dutch investment firms Hoyberg and NPM Capital. Picnic, established in the Netherlands in 2015, utilizes electric vans to deliver groceries directly to customers from local distribution warehouses. The company currently serves two million customers across 200 locations, having launched in Germany in 2018 and France in 2021. This significant capital injection allows Picnic to strengthen its position in existing markets and explore expansion into new ones, contributing to the development of a strong European market leader in online grocery shopping. The cross-border collaboration between Dutch and German teams highlights the potential for successful ventures within the EU. The latest funding builds on previous rounds, including a €355 million raise last year and a €600 million Series D round in 2022.
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