Tuesday, August 16, 2022
HomeDelivery, Logistics & FulfillmentLewis Hamilton invests in grocery delivery app

Lewis Hamilton invests in grocery delivery app

The rapid grocery delivery start-up app Zapp receives $200 million. Lewis Hamilton, the Formula One stat makes the big investment.

Zapp traces the origin from London. It raised fresh cash in Series B led by Lightspeed Venture Partners. 468 Capital and BroadLight Capital being the other. The grocery delivery app includes Atomico, Burda, and Vorwerk.

The grocery delivery app didn’t disclose the valuation. Hamilton received a start-up investment from F1 star. Lewis Hamilton won seven world championship titles. He holds a joint record with driver Michael Schumacher.

The app facilitates rapid food delivery. People can buy snacks, drinks, and other essentials. It features products from dark stores. These stores are specially designed to prepare online orders. The app promises to deliver orders in 20 minutes.

The grocery delivery app is like many other start-ups in Europe. It aims to achieve more customers with super-fast delivery. It gets high competition from Getir. Gorillas and Flink.

The app says to differentiate from others. It brings the digital alternative to the convenience store. It’s not just an online version. It is available in seven cities currently. London, Amsterdam, and Paris are three of them.

Joe Falter, the co-founder of Zapp, gives the statement, “With this new capital, we will focus on achieving profitability in our existing markets as well as bringing Zapp to new customers globally.”

The company will invest fresh capital in enhancing the customer experience. It will also focus on the supply chain. Zapp opened a distribution center in London. It was 25,000 square feet to keep the inflow of goods in the dark stores.

JPMorgan was the financial advisor for the deal. The grocery delivery app recorded extensive growth during the pandemic. The company didn’t disclose the figures.

The long-term sustainability of these apps is possible with differentiation. The tech investors and executives question the start-ups. There is room for every new start-up. There are no winners and losers. And, customers demonstrate the value choice.

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