Buymie – a leading player in the Irish grocery delivery market – has announced that Grosvenor Food & AgTech, Act Venture Capital, Sure Valley Ventures, Haatch Ventures and HBAN have invested in the business, as part of a €7 million funding round.
Other investors in this round include Keith Weed, former chief marketing and communications officer for Unilever, and Eamonn Quinn, chairman of Buymie and former deputy chairman of the Superquinn Group.
This has brought the total funding in the business to €18 million. Since its foundation in 2016, Buymie has expanded to a team of more than 70, with a network of over 400 personal shoppers.
Since the onset of coronavirus, Buymie has gained a sharp increase in its demand, the company noted in a statement. It fulfils orders in as little as one hour and delivers products on the same day.
The company’s services are available to over two million households across Dublin, Cork, Galway, Limerick, Leeds and Bristol. For its next move, it is considering expanding its services to more than 200 cities.
Commenting, the CEO and co-founder of Buymie, Devan Hughes (pictured), said, “This latest round of funding follows the successful launch of our newest retail partnership with Asda across multiple cities in the UK.
“This capital will allow the business to continue its focus on developing best-in-class technology while helping our retail partners transform their online and in-store capabilities to better serve their customers and unlock growth opportunities.”
Elsewhere, investor Keith Weed added, “The grocery retail landscape is being transformed by platform technology. It is very clear that the growth and margin opportunities of the future for retailers will be unlocked through capabilities facilitated by businesses and technology like Buymie.” [Photo: Press Eye Photography]