Picnic Raises €355M for Expansion in European Market

The online grocery service plans to leverage its unique delivery model to grow in France and Germany.

Dutch online supermarket Picnic has raised €355 million ($388.02 million) in funding to further its expansion in France and Germany.
The funding round included notable participants such as The Bill and Melinda Gates Foundation Trust and Edeka, Germany's largest supermarket group.
Picnic has been growing steadily since its inception in 2015, with distribution centers already established in Berlin, Hamburg, and Paris.
The company's unique business model involves accepting orders via its app and delivering groceries directly to customers' homes at specified times using a fleet of small electric vans.
With this recent funding, Picnic's total raised capital is nearing one billion euros, positioning it as a serious contender in the rapidly evolving online grocery market.