Rapid delivery start up Zapp raises $ 200 million for supply chain
- ByStartupStory | January 28, 2022
(Bloomberg -U.K rapid delivery start up Zapp has risen $ 200 million in new funding to build out a supply chain that commends items to consumers in minute, giving the company fuel to continue unfolded in a rivalrous and amplifying market.
Zapp was backed in the round by lead investors lightspeed ventures partners, 468 capital and Broad light capital, with Atomico, Burda and Vor werk Ventures joining as well, the company said in a statement Friday.
Formula one star Lewis Hamilton also came aboard as investor.
Casted in 2020, Zapp is among a spate of start ups seeking to deliver convenience goods and groceries in around 15 minutes that saw a swell of usage during the pandemic.
The company is focused on “ convenience mega- cities.” Such as London and Amsterdam, with the new funding taking the business’s total capital risen to $ 300 million since being founded.
The new funds will be also utilised to ameliorate Zapp’s technology and customer service following the opening last year of a larger distribution center in London, which makes it easier to restock its smaller micro fulfillment centers in the city.
Investment will go both toward subsisting markets and developing new ones.
Chief Executive officers Navid Hadzaad said in an interview.
Hadzaad also said that the company has affirmed enhancement of customer behaviour around all relevant metrics, from frequency to spend, throughout the years. We are excited for London and the world continuing to open up.” He added.
With the supply chains sufferings from stock shortages and delayed shipping in recent months, co founder Joe falter said that company’s goal of building out its own supply lines would help it be more potent and dependable in affirming inventory for customers.
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