arive, the Munich-based startup delivering high-end brands to consumers’ doors in hours has raised a €17.6 million Series A funding round. This comes just four months after the startup nabbed €6 million in seed funding.
The funding was led by Balderton Capital. Next to BurdaPrincipal Investments, Global Founders Capital as well as previous investors La Famiglia and 468 Capital also participated.
The European ecommerce and delivery market has been heating up and in 2022 it’s one of the areas we can expect to see plenty of growth and big funding stories. Currently, the quick delivery market is centring around groceries, and consumers still find themselves waiting days rather than hours for other products ordered online.
Arive wants to transform the delivery experience and improve the end-to-end shopping process for goods beyond the grocery market. With arive, customers can shop products from categories like tech, self-care, beauty, fitness and jewellery, with brands such as Apple, Bose, Lego and Lululemon already listed on the site. Bringing a touch of luxury to the quick-delivery market.
Maximilian Reeker, co-founder, said: “It’s not just about being the next quick commerce vertical but building the next generation of e-commerce”.
The startup has so far focused energies in Germany, with a presence in Berlin, Frankfurt, Hamburg, and Munich. This new funding boost will enable the company to expand its innovative shopping model across Germany and beyond. It will also be used to further develop the app and delivery experience following the aim to create the high-end experience customers are looking for.
Founded in 2021 by Linus Fries and Maximilian Reeker, arive seeks to serve premium products to busy urban consumers, providing a high-standard shopping experience, but also valuing sustainability.
To this end, the young startup uses light electric vehicles to rapidly fulfil orders, and, brands that want to be listed on the app are vetted on a criteria based upon sustainability and brand values. In addition, to better sustainability in the workplace, all of its couriers are employed by the company with full-time or part-time contracts.
via https://www.AiUpNow.com
January 12, 2022 at 09:03AM by contact@bcurdy.com, Khareem Sudlow
