Here’s an exclusive look at the pitch deck delivery startup Crisp used to raise $36 million amid a huge investor rush into grocery
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- Dutch delivery startup Crisp has raised a $36 million Series B funding round.
- The company focuses on locally sourced and high quality products delivered in a one-hour window.
- Investors have piled into grocery delivery startups through 2021.
Investors continue to pour cash into the grocery delivery sector.
Amsterdam-based online supermarket Crisp has raised $36 million in a Series B funding round led by Berlin-based fund Target Global. The European grocery retail market is overall expected to be worth approximately €2.3 trillion ($2.7 trillion) in 2022, according to IGD, but online shopping still has limited penetration.
Investors have been piling into startups which offer rapid and last-mile delivery services in recent months.
Crisp is hoping to “unbundle” the supermarket, CEO and cofounder Tom Peeters told Insider in an interview.
“Both the world and consumers are changing their habits on how they shop from offline to online and also wanting fresher and more locally and transparently sourced food,” Peeters said. “For us it’s about quality and convenience, the Netherlands is a major food producer so the challenge is distribution,”
Founded in 2018 by serial entrepreneurs Tom Peeters, Michiel Roodenburg and Eric Klaassen, Crisp offers grocery deliveries directly from local suppliers through a mobile shopping app delivered within a one-hour time slot across the whole of the Netherlands.
The company’s model relies on using tech to reduce physical infrastructure. The startup takes orders online to assess demand and then moves to source and supply items dynamically rather than hold onto inventory.
In less than three years, Crisp claims to be the fastest-growing supermarket in the Netherlands.
“Most companies in the delivery space run on thin s because they are operating in one specific part of the space where there is not a lot of wiggle room,” Peeters added. “To get the added value you have to start at the beginning which for us means controlling the whole supply chain meaning we have zero inventory, zero waste which is good for the planet and the consumer.”
The funding process began shortly before Christmas 2020 and closed in late February. Keen Venture Partners and the co-founders of Adyen and Takeaway.com also joined the funding round which takes Crisp to a total of $51.2 million raised to date.
Crisp’s funding will be used to continue scaling its platform and also investing in software to ensure that the company can still run smoothly as it adds new partners to its platform. Similarly, Crisp will invest funds into expanding and improving its fleet of electric vehicles as models with improved range and efficiency become available, Peeters said.
Check out Crisp’s pitch deck below: