Picnic gets £500m in Series D funding

‘Modern milkman’ food delivery company Picnic has received £500 million in Series D funding from the Bill & Melinda Gates Foundation and existing shareholders to roll out its operations in Europe. This is one of the biggest such investments in recent months.

Launched in 2015, Picnic offers low carbon, scheduled delivery using small electric vehicles of food products with recyclable or returnable packaging. It has already had great success in Germany, France and the Netherlands and now operates in more than 200 cities.

The investment is to develop automated fulfilment centres, buy new electric vehicles and to expand the firm’s tech team. Joris Beckers, co-founder, Picnic, said, “Making the global food system more sustainable is one of the biggest and most important challenges of our generation. We made it our mission to build an entirely new food distribution system that revolutionizes how people buy groceries. We will continue to invest in our expansion and technological lead to the benefit of our customers. We’re extremely proud to have the Bill & Melinda Gates Foundation trust as an investor to enable our continued growth.”

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