Total amount raised
€1.3 Billions
Latest funding date
1/1/2024
Location
Picnic has successfully raised significant funding over multiple rounds, with notable investors including the Bill & Melinda Gates Foundation and EDEKA. The company has developed a mass-market home delivery system for fast-moving consumer goods.
Keep reading to explore the intricacies of Picnic's fundraising journey and the investors backing this innovative platform.
What Is Picnic?
Founded on October 1, 2015, Picnic is a fast-growing tech company based in Amsterdam, Noord-Holland, The Netherlands. The company has developed a modern milkman service, delivering groceries directly to customers' doors.
Picnic was founded by Bas Verheijen, Daniel Gebler, Frederik Nieuwenhuys, Joris Beckers, and Michiel Muller. The company emphasizes low prices, fresh products, and convenience.
With a workforce of 5001-10000 employees, Picnic continues to innovate in the home delivery market for fast-moving consumer goods.
How Much Funding Has Picnic Raised?
- Series B
- Amount Raised: €100M
- Date: March 2017
- Lead Investors: NPM Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance delivery infrastructure.
- Debt Financing
- Amount Raised: €50M
- Date: November 2019
- Lead Investors: ABN AMRO Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and expand market reach.
- Series C
- Amount Raised: €200M
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand into new markets.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: September 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and innovation in delivery services.
- Series D
- Amount Raised: €600M
- Date: September 2021
- Lead Investors: Bill & Melinda Gates Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence in Europe and enhance automation.
- Series E
- Amount Raised: €355M
- Date: January 2024
- Lead Investors: EDEKA, Bill & Melinda Gates Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations in France and Germany and enhance robotization and automation efforts.
Total Amount Raised: €1.305B
Current Valuation: Not publicly disclosed
Key Investors
- Bill & Melinda Gates Foundation
- Details: The Bill & Melinda Gates Foundation is a private foundation founded by Bill and Melinda Gates. It focuses on global health, development, and education.
- Investment Focus Areas: Global health, development, education, policy advocacy.
- Notable Investments: Various philanthropic projects and initiatives in health, education, and poverty alleviation.
- EDEKA
- Details: EDEKA is Germany's largest supermarket group, operating a network of independently owned stores. It is a major player in the retail and grocery sectors in Germany.
- Investment Focus Areas: Retail, grocery, consumer goods.
- Notable Investments: Investments in retail and grocery sectors.
- ABN AMRO Fund
- Details: ABN AMRO Fund is a part of ABN AMRO, a Dutch bank that provides a range of financial services. The fund focuses on supporting innovative and sustainable businesses.
- Investment Focus Areas: Financial services, sustainable development, technology.
- Notable Investments: Various investments in fintech, sustainable energy, and technology startups.
- NPM Capital
- Details: NPM Capital is a private equity firm based in the Netherlands. It invests in medium to large-sized companies with growth potential.
- Investment Focus Areas: Consumer goods, industrials, technology.
- Notable Investments: Investments in various sectors including consumer goods and technology companies.
- Dutch Family Businesses
- Details: These are unspecified family-owned businesses based in the Netherlands that have invested in Picnic. They typically focus on long-term growth and sustainability.
- Investment Focus Areas: Various, likely including retail and technology given their investment in Picnic.
- Notable Investments: Not specified, but likely include various sectors within the Netherlands.
What's Next for Picnic?
Picnic's future looks promising with significant opportunities for expansion in France and Germany. The recent €355 million funding round will enable the company to enhance its robotization and automation efforts, positioning it well within the growing trend of digital transformation in the grocery industry. The company aims to achieve €1 billion in annual sales by the end of 2024, leveraging its unique delivery model and advanced technologies.
Future fundraising opportunities seem likely, given the substantial backing from high-profile investors like Edeka and the Bill & Melinda Gates Foundation. However, Picnic will need to navigate challenges such as rising food prices, competition from other eGrocers, and the complexities of scaling operations internationally. Maintaining service quality while expanding rapidly will be crucial for sustained success.
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