Buymie, an Irish same-day grocery delivery platform, has closed a €7 million funding round. It follows €8 million in funding raised by the company in 2020. The total financing now amounts to 18.2 million euros.
The latest round was led by the company’s biggest backers, including Grosvenor Food & AgTech (an investment arm of the Grosvenor Estate), Act Venture Capital, Sure Valley Ventures, Haatch Ventures and HBAN (Halo Business Angel Network).
Other heavyweight investors in this round include Keith Weed, former chief marketing and communications officer of consumer goods group Unilever, and Eamonn Quinn, former vice chairman of Superquinn Group and chairman of Buymie.
Founded in 2016, the company employs more than 70 people and has a network of more than 400 personal shoppers.
The service is available in Dublin, Limerick, Cork and Galway, as well as Leeds and Bristol in the UK.
In Ireland, Buymie’s official retail partners are Dunnes Stores and Lidl.
In the UK, the company is working with The Co-Op and in March announced a major new partnership with Asda to launch the service in Leeds and Bristol.
This is seen as a groundbreaking partnership for the company.
The recently raised funds will allow Buymie to continue its rapid market expansion in both Ireland and the UK, with over 200 additional cities currently under consideration.
Devan Hughes, CEO and co-founder of Buymie said: “This latest round of funding follows the successful launch of our latest multi-city retail partnership with Asda in the UK.
“This capital will allow the company to remain focused on developing best-in-class technologies while helping our retail partners transform their online and in-store capabilities to better serve their customers and capture growth opportunities.”
Supporter Keith Weed, who now sits on the boards of both Sainsbury’s and advertising giant WPP, said: “The landscape of grocery retail is being transformed by platform technology.
“It is very clear that the growth and margin opportunities of the future for retailers will be unlocked by capabilities supported by companies and technologies like Buymie.”
The service has now been used by one in eight households across Dublin.
