As we were all told to "stay home, save lives" one of the biggest beneficiaries of this policy was the e-grocery sector. However, funding in the market has become, shall we say, extremely sluggish(?) at best. Rising costs of living, supply chain issues, and shortages triggered by the war in Ukraine, and the list goes on and on and on.
And yet amidst all the market turbulence, Prague’s Rohlik has raised €220 million in a Series D round, led by new investor Sofina, whose portfolio includes shared mobility platform dott, and FBA aggregator SellerX.
Existing investors, including Index Ventures and the company founder Tomáš Čupr, also participated in the round. The additional cash will be used to level up tech innovation, including further automation of fulfilment centres, increasing its electric mobility capabilities, and continued expansion in existing countries.
“Series D in this tough market is a great achievement for Rohlik. This raise gives us a chance to emerge as a category winner in the next few years,” commented Čupr.
Founded in 2014, the e-grocery platform is operational in Prague (rohlik.cz), Budapest (kifli.hu), Vienna (gurkerl.at), Munich, and Frankfurt, reports revenues in excess of €500 million last year, and as of last summer claimed a spot on the unicorn list.
On the investment, particularly in the current economic client, Sofina’s CEO Harold Boël explained: “This investment fits with Sofina’s strategy in the consumer and retail sector of providing capital to support growth opportunities alongside partners sharing common values and a vision to bring efficiency, choice and convenience of food retail to new levels.”
Index Ventures' Jan Hammer added: “We are encouraged by Rohlik’s continued strong yet sustainable growth, having now reached profitability in two key markets. This latest round of funding will allow the company to take advantage of the opportunity in front of them, as they double down on their investment in technology, accelerate expansion and consolidate market leadership.”