Dutch online grocery store Picnic has raised €355 million from its investors and plans to further expand in France and Germany, it said in a statement.
The company has already opened distribution centres in Hamburg and Berlin in Germany, and in Paris, France.
Picnic, which was founded in 2015, said investors taking part in the latest fundraising included The Bill and Melinda Gates Foundation Trust and Germany's largest supermarket group Edeka.
Orders made via Picnic's app are delivered from the distribution hubs to customers' front doors at an appointed time by small electric vans.
Expansion Plans
In August of last year, the company expanded its business to Hesse, Baden-Württemberg and Rhineland-Palatinate in Germany, weeks after launching its services in Hamburg and Berlin.
Picnic opened its first fulfilment centre in south-west Germany in Viernheim, creating more than 300 jobs.
The online retailer offers around 10,000 products, comprising food and drugstore items from well-known brands and private labels, as well as regional products.
As the groceries are sold directly from the warehouse to the customers, the company saves on operating costs for shops. It also cuts food waste as products are only delivered if ordered by 11pm the previous evening.
Private Label
In May, Picnic launched a new range of 2,000 private-label SKUs, which forms part of its mission to 'democratise online grocery shopping', it said in a statement.
The group worked alongside UK-based strategic design consultancy big fish on the development of its multi-tier range, aiming to develop products that 'look good in their homes, instead of fighting for attention on the supermarket shelf', it added.
News by Reuters, additional reporting by ESM.
