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Bill Gates invests €600 million in online supermarket

Picnic is an online supermarket. It has raised €600 million in a new investment round. This will accelerate its growth. Picnic wants to become the most sustainable grocery delivery service in Europe. The Bill & Melinda Gates Foundation Trust led this funding round. The already-existing investors contributed too.

This latest investment will enable an accelerated rollout of Picnic in Europe, especially in Germany and France. The company announced that it needed funding in several areas. That was not only for robotic fulfillment centers and electric vehicles. But also for a team of software developers. These are all required for long-term growth.

They will also use the money for further technological innovations. This is needed to meet the ever-growing demand. Picnic's sustainable model is unique in Europe. They deliver groceries free to your door, using electric vans. That prevents food waste too.

Since 2015
The online supermarket was launched in 2015. Picnic introduced a modern version of the 'milkman's round'. It does efficient deliveries in distinctive electric cars. These are done quickly and with a smile. Since then, it has expanded to more than 200 locations in the Netherlands, Germany, and France. It has saved people millions of individual trips to the supermarket. Sustainability has been one of Picnic's main focal points since the start.

“It's one of our generation's biggest, most important challenges - making the food chain sustainable," says Picnic's co-founder, Joris Beckers. "We wanted to develop a new food distribution system. It's sustainable and completely changes how we do grocery shopping. We continually invest in expansion and technology. That's so we can give our customers the best service. We're incredibly proud to partner with the Bill & Melinda Gates Foundation. And to continue growing."

Source: Picnic

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