![]() It is now active in Prague, Budapest, Vienna, Munich, Frankfurt and soon Hamburg, Milan, Bucharest and Madrid, but no country-wide blitzes appear to be in sight. Rohlik’s method seems to mainly be grow slow. For its part, Ocado has not chosen to storm Europe, for example, but exports its tech to a number of partners around the world. in that it has taken a very methodical approach to growth. Fresh produce, in fact, accounts for some 40% of its sales, which is higher than the average for grocery delivery companies and seems to be a point of pride for the company: perishables can be very tricky to get right, so the fact that Rohlik’s selling them, and people are confidently buying them, says something. Namely, it has taken on the production of a lot of the items it sells, like baked goods and it also has a mission to work closely with local shops and small producers, so these should be factored into the unit economics of its model. (Rohlik has now raised more than half a billion euros, or over $500 million.)Īgain, Rohlik did not disclose any figures on how it has grown over the last year, or current revenues, in its news announcement but it notes that its 90-minute turnaround from ordering to door, with 15-minute time slots for booking, now covers 17,000 items.Īs we’ve written about previously, Rohlik has some distinguishing details about its own approach in addition to its own slant on delivery times. In other words, those that have attracted the most investment stand to be the biggest losses if they don’t make it. Hard truth time: Winners might be about who is performing the best, but there is also an argument to be made that it will just be those that have been leveraged the most. In that context, this round seems to indicate that there is still a thesis being played out where investors believe that a handful of companies will emerge out of the wider field as the winners. enabled by bags of money from investors a strategy among a lot of players to flood the market to build out their delivery networks and get acquainted with more consumers by way of cut-price promotions and of course a global health pandemic that led many people to stay away from visiting physical locations for their food fixes.Īll of that has taken very clumsy downshift in the last several months, led by inflation and a very bearish-looking stock market, which has slammed all of the publicly listed online grocery players and put cascading pressure on the rest of the sector. On-demand food delivery has been riding a wave of hype for the last couple of years, with the many different permutations of the model - “instant” delivery, hot takeout from restaurants, hot takeout from cloud kitchens, groceries, booze and non-essentials, autonomous delivery robots, etc., etc. This raise gives us a chance to emerge as a category winner in the next few years and I am excited about what lies ahead,” said Čupr in a statement. Without our great people, we wouldn’t be in this position. “Series D in this tough market is a great achievement for Rohlik and the entire team. Rohlik also noted that revenues were €500 million in 2021 (but declined to give current revenue numbers), and that it has been profitable in the markets where it operates in Hungary and the Czech Republic, respectively since 20. When Rohlik last raised money - $119 million almost exactly a year ago - it was valued at €1 billion, which was $1.2 billion at the time, but that figure is now closer to $1 billion given the decline of the euro against the dollar at the moment. However, it’s declined to give a precise figure, so that could mean anything. Rohlik has pointedly noted with its announcement today that this Series D, happening during a “turbulent” time, is coming in at a higher valuation than its Series C. ![]() Other big European players Getir and Gorillas have laid off staff Deliveroo confirmed to us that it has frozen hiring and others are consolidating with bigger rivals as their runways run out. ![]() ![]() The investment is coming at a tough time for the sector. This is a Series D and it is being led by a new backer, Sofina, with previous investors - Index Ventures and founder/CEO Tomáš Čupr are the two being named - also participating. Today, though, comes an interesting exception: Rohlik, an online grocery delivery startup based out of Prague with some 1 million customers, is announcing that it has raised €220 million ($231 million at current rates), money that it will be using to continue investing in its current markets and its growth. Following a long period of cash injections, splashy and high-profile promotions, and interesting experiments toying with the cutting edges of tech, these days, layoffs, M&A and dropping valuations are too often the stories you’re more likely to hear about a lot of them. The salad days are over for many startups in the online food delivery sector. ![]()
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