Zapp plans to use the funds to enhance its technology and customer service. Here are the top-line bullets you need to know.
Zapp, an instant grocery delivery startup, has raised $200M in a Series B round that drew participation from Lightspeed Venture Partners, 468 Capital, and BroadLight Capital, among others.
How’s the company performing?
- UK-based Zapp enables consumers to order drinks, snacks, groceries, and other food items for delivery.
- The company operates a network of small dark stores (known as Zappstores) and a distribution center in order to support order fulfillment.
- The company maintains operations across Bristol, Amsterdam, Manchester, Cambridge, and Rotterdam, and it is currently running a soft launch in Paris.
Source: Zapp
Why does the market matter?
- The global online food delivery market is expected to reach a value of $63.6B by 2025, growing at a CAGR of 15.4%, according to Grand View Research.
- Changing consumer preferences are contributing to growth in this market. For example, the demand for fresh food options and fast delivery has increased, particularly among millennials.
- Online delivery volume skyrocketed in the face of pandemic-related lockdowns, store closures, and social distancing protocols.
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