Funding round
Picnic Growth
Reported as "Growth Equity"
Picnic, which works in grocery delivery services in Düsseldorf, raised $389M in a Growth round announced on 9 Jan 2024, led by Edeka. 2 firms took part, 2 of them already investors. It is Picnic's third venture round on record; the one before was a Series C in Nov 2019.
$389M
Amount raised
355,000,000 EUR converted
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Picnic did not disclose a valuation in this round. It came 50 months after Picnic's Series C. It is 52% of the $749M Picnic has raised in the venture rounds on record. No later venture round is on record for Picnic.
Investors
Who put money in
Edeka led the round with 1 other firm. Edeka and Bill and Melinda Gates Foundation Trust had backed Picnic before.
Lead investor
- Edeka existing investor
Also in the round
- Bill and Melinda Gates Foundation Trust existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion and scaling operations.
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
8 Growth rounds in Groceries within a year either side disclosed an amount; the median was $49M, and this round was 7.9 times the median. The closest in time, other companies' Growth rounds in Groceries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Groceries | 1 Feb 2024 | $28M | not disclosed | not named |
| Groceries | 16 Nov 2023 | $38M | not disclosed | not named |
| Groceries | 26 Mar 2024 | $25M | not disclosed | Venturi |
| Groceries | 26 Mar 2024 | $25M | not disclosed | Venturi |
| Rohlik Groceries | 28 Jun 2024 | $171M | not disclosed | not named |
| Rohlik Group Groceries | 28 Jun 2024 | $170M | not disclosed | European Bank for Reconstruction and Development |
| Groceries | 17 Oct 2024 | $70M | not disclosed | General Atlantic |
| Gousto Groceries | 6 Feb 2023 | $61M | $1.70B | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Picnic raise in its Growth round?
Picnic raised $389M in its Growth round, announced in Jan 2024.
Who led Picnic's Growth round?
Edeka led it, with Bill and Melinda Gates Foundation Trust.
What was Picnic's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Groceries?
8 Growth rounds in Groceries within a year either side disclosed an amount; the median was $49M, and this round was 7.9 times the median.