Pieter Pot raises €9 million
Dutch grocery supply startup Pieter Pot has raised 9 million euros in a funding spherical. The corporate will use this capital injection to speed up its growth. Pieter Pot is already energetic within the Netherlands and Belgium, however now needs to broaden its vary throughout extra European markets.
Pieter Pot was based in 2019 and has been scaling up shortly ever since. By way of the web site, prospects can order groceries comparable to olive oil, cookies and peanut butter. The groceries are delivered in mason jars, which make small packing materials out of date.
Round grocery supply
The corporate was based as a result of co-founders Jouri Schoemaker and Martijn Bijmolt seen that buyers had been on the lookout for extra sustainable options. “Customers need sustainability, with out having to place in a lot effort”, mentioned Schoemaker. Because of this Pieter Pot takes again the mason jars when delivering the following order, making Pieter Pot’s enterprise mannequin round.
70.000 prospects within the Netherlands
In response to Pieter Pot, is now has 70.000 prospects within the Netherlands, 10.000 prospects in Belgium and 30.000 prospects on the ready checklist. With the brand new funds raised, the corporate needs to develop additional inside the Netherlands, broaden its product vary and enter extra European markets.
‘The size on which you use is necessary in changing into financially wholesome.’
“With a round supply service like ours, the place there are double transport prices due to gathering the empty packaging and cleansing it as properly: the size on which you use is of nice significance in changing into financially wholesome. On the identical time, we additionally must proceed to tempt shoppers with the sustainable possibility”, says Schoemaker.
Plans to enter European markets
In November final yr, Pieter Pot raised 2.7 million euros in a earlier funding spherical. These funds had been used to create a brand new web site and for collaborations with well-known manufacturers. In June this yr, Pieter Pot introduced its growth to Belgium and Schoemaker has already talked about that the corporate needs to enter Germany, the UK and Scandinavia subsequent.
‘Pieter Pot expects to succeed in the break-even level in 2023.’
The latest funding spherical was led by the Environmental Expertise Fund, with buyers comparable to Shift Impression, Future Meals Fund and InnovationQuarter. “Pieter Pot is on the epicenter of a number of tendencies, together with sustainability and know-how, and reimagining a sector central to on a regular basis life, particularly groceries”, says Tomer Strikovsy, funding supervisor at lead investor ETF. “It’s precisely the form of enterprise we need to spend money on: a singular service providing in a burgeoning, regularly rising sector, led by a staff hyper-focused on having an affect by their sustainable, scalable firm.”
The raised 9 million euros is not going to solely be used for worldwide growth, but additionally for the event of a brand new mason jar of lighter materials and the automation of the cleansing course of. The corporate expects to succeed in the break-even level in 2023.