Grocery delivery service Weezy raises USD20 million in Series A round
Weezy, a UK-based on-demand supermarket that delivers groceries in 15 minutes on average, has raised USD20 million in Series A funding to expand its grocery delivery service across London and the UK.
The investment round was led by New York-based VC Left Lane Capital, with participation from UK-based DN Capital, as well as existing investors Heartcore Capital and angel investors including Chris Muhr, founder of Groupon.
Left Lane Capital managing partner Harley Miller will join Weezy's board following the deal. The capital will be used to expand the company’s London-based team by 50 employees over the next four months.
"This new funding round will allow us to expand the team and our footprint to bring Weezy to more customers across the UK,” said Kristof Van Beveren, co-founder and CEO of Weezy, which uses pedal cycles or electric mopeds in order to deliver groceries in 15 minutes.
Due to the pandemic the popularity of online grocery delivery has exploded since early 2020; half a million new consumers were added to the sector in Q2 2020 alone. The UK grocery delivery sector today has an estimated worth of GBP14.3bn.
“Even before the pandemic, interest in online grocery shopping was on the rise. The first time I ordered from Weezy, my delivery arrived in seven minutes and I was hooked," commented Nenad Marovac, founder and managing partner at DN Capital.
"There is a need for fresh, visionary ideas to shake up this space and the team at Weezy is doing just that. I’m excited for the next stage of this dynamic company,” he added.
Weezy is opening two centres in Lambeth and London Fields in January, adding to its existing footprint currently covering Battersea, Clapham, Fulham and Chelsea. It plans to open 40 more sites in the UK by the end of 2021.