Lancashire-based online grocery service Modern Milkman has milked £2.25 million in funding from Manchester-based venture capital investor Praetura Ventures. The investment will drive its ongoing scaling and sustainability efforts, which have so far seen the company save over 46.5 million plastic bottles.
Founded in 2018 by Simon Mellin, the startup aims to make a positive impact on the planet and boost convenience and sustainable shopping. Headquartered in Colne, Modern Milkman uses intelligent data and analytics to map out milk rounds, assess demand and reduce carbon emissions. Modern Milkman’s app helps consumers reduce food waste by allowing users to shop little and often, without compromising on sustainability. According to the company, it uses zero oil-based plastics and introduced a return and reuse initiative for freshly squeezed orange juice to create a sustainable shopping experience.
The business works closely with decision intelligence firm Peak AI, another Praetura Ventures portfolio company, to combine information, such as shelf life dates, customer ordering patterns, and warehouse data to ensure customers receive deliveries on time with minimum waste in the supply chain.
With 19 hubs across England, the startup also works with independent suppliers and farmers to deliver grocery products, including eggs, yogurt, and bakery items to fruit and vegetables. Its milk rounds deliver 3 times a week and are easily managed online.
Simon Mellin, founder and CEO of Modern Milkman, said: “We’re excited by the opportunity to collaborate and learn from Praetura and their impressive portfolio of tech businesses as we continue on our objective to achieve the scale and consumer loyalty, we need to realise our vision to reset our throwaway society.”
David Foreman, managing director of Praetura Ventures, added: “Modern Milkman has grown at a highly impressive pace and is now eyeing global expansion. Apart from its unique and innovative approach to the grocery sector, what attracted us are its highly authentic sustainability pledges and plans to curb plastic use significantly.”