Picnic may accelerate its rollout in Europe thanks to a €600 million investment. The money comes partly from Bill Gates and his ex-wife Melinda Gates.
The amount was raised during an investment round led by the Bill & Melinda Gates Foundation Trust. Existing investors also contributed during this round. Bill and Melinda Gates' foundation focuses mainly on charitable investments, but also supports sustainable projects. Picnic's business model of delivering with electric trolleys is in line with this.
Picnic says its green business model is unique in Europe. "We continue to invest in growth and technology to provide the best service to our customers. We are extremely proud to partner with the Bill & Melinda Gates Foundation and continue our growth," said Picnic co-founder Joris Beckers.
With the money, Picnic wants to accelerate its rollout in Europe, especially in Germany and France. This will require investments in robotised distribution centres, electric vehicles and a team of software developers.
