Online supermarket Picnic raises €600m to fund European expansion
Dutch online supermarket Picnic has raised €600m from a variety of investors, including the Bill & Melinda Gates Foundation, to finance its international expansion.
Picnic was founded in 2015 and currently delivers groceries in 125 cities in the Netherlands and Germany. The new investment will be used to expand its capacity in Europe, primarily Germany and France, the company said.
‘Investment in robotised fulfilment centres, electric wagons and a team of world class software developers are necessary for long-term growth,’ the company said. The money will also be used for technological development.
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