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Dutch online grocer Picnic raises $388 million from investors, Gates Foundation

Reuters
·1 min read
FILE PHOTO: Picnic employee Sam Spijkerman distributes the customer's orders in an electric van in Amsterdam

AMSTERDAM (Reuters) - Dutch online grocery store Picnic has raised 355 million euros ($388.02 million) from its investors and plans to further expand in France and Germany, it said in a statement on Tuesday.

The company has already opened distribution centres in Hamburg and Berlin in Germany, and in Paris, France.

Picnic, which was founded in 2015, said investors taking part in the latest fundraising included The Bill and Melinda Gates Foundation Trust and Germany's largest supermarket group Edeka.

Orders made via Picnic's app are delivered from the distribution hubs to customers' front doors at an appointed time by small electric vans.

($1 = 0.9149 euros)

(Reporting by Charlotte Van Campenhout; Editing by Kirsten Donovan)