After just 1.5 years in existence, Dutch grocery delivery startup Picnic has nabbed a historically large Series B funding round to roll out their service to the whole of the Netherlands.
The 100 million euro round came from four Dutch family funds, NPM Capital, De Hoge Dennen, Hoyberg, and Finci, and dwarfs the Series B of companies like Uber ($37mm) and Snapchat ($80mm).
Picnic is using custom built electric vehicles for their deliveries. This almost certainly is the main reason for the large round as this is the main differentiator from other grocery delivery companies. The company is obviously doing something right to get the investor’s intention. The vehicles seem to provide a true advantage: If (if!) Picnic is on the right track (and the size of the round implies this) the learnings from this gives Picnic a head start in the very hard market of grocery deliveries; and a potential moat in the future.
Certainly a company to watch.
More on Picnic from TNW:
they follow set routes and deliver at set times, so costumers always know when to expect their fresh foodstuffs. That’s not only more efficient than how most grocery delivery companies go about it now – criss-crossing town to deliver at requested times, sometimes coming back to the same street after doing a delivery across town – but also allows Picnic to deliver for free. […]
the company only orders products from suppliers when a costumer has paid.
Free grocery deliveries is quite the feat if sustainable.
It’s currently active in Utrecht, Amersfoort, and Almere with launches coming in more cities shortly – it recently added Delft, Leidschendam, Voorburg, Nootdorp, Ede and Veenendaal – and has plans to open more distribution centres around the Netherlands. According to its announcement, the company will employ over two thousand people this year.
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