Amid market turmoil and layoffs galore, Prague online grocer Rohlik takes in €220m
As we’ve all been told to “stay home, save lives”, one of the biggest beneficiaries of this policy has been the online grocery sector. However, market funding has become, shall we say, extremely slow(?) at best. The rising cost of living, supply chain issues and shortages triggered by the war in Ukraine, and the list goes on and on.
And yet, amidst all the market turmoil, Prague’s Rohlik raised €220m in a Series D round, led by new investor Sofina, whose portfolio includes shared mobility platform dott , and FBA aggregator SellerX.
Existing investors, including Index Ventures and company founder Tomáš Čupr, also participated in the round. The extra money will be used to improve technology innovation, including further automation of distribution centers, increasing its electric mobility capabilities and continued expansion into existing countries.
“The D-series in this difficult market is a great achievement for Rohlik. This increase gives us a chance to emerge as a class winner in the next few years,” commented Čupr.
Founded in 2014, the online grocery platform is operational in Prague (rohlik.cz), Budapest (kifli.hu), Vienna (gurkerl.at), Munich and Frankfurt, has revenues of over 500 million euros l last year, and since last summer, he has claimed a spot on the unicorn list.
Regarding the investment, particularly in the current economy customer, Sofina’s CEO, Harold Boël, explained: “This investment is in line with Sofina’s strategy in the consumer and retail sector to provide capital to support growth opportunities alongside partners who share common values and a vision to bring efficiency, choice and convenience in food retail to new levels.
Jan Hammer of Index Ventures added: “We are encouraged by the continued strong but sustainable growth of Rohlik, which has now achieved profitability in two key markets. This latest round of funding will allow the company to capitalize on the opportunity as it doubles its investment in technology, accelerates its expansion and solidifies its market leadership.