Carrefour has teamed up with European venture capital firm daphni to launch 'Dastore', a venture capital fund that will invest in digital retail startups.
The fund will initially invest €80 million in taking minority stakes in 'high potential emerging startups' both in France and around the world, Carrefour said in a statement.
Carrefour said that both it and daphni will be able to offer startups access to 'know-how of seasoned investors', as well as the industrial capabilities and global reach of the Carrefour businesss.
'Milestone In Innovation Strategy'
“Launching this venture capital vehicle is a huge milestone in our innovation strategy and illustrates our willingness to further develop the links we have with the startup ecosystem," commented Elodie Perthuisot, Carrefour Group's executive director of e-commerce, data and digital transformation.
"Investing in startups is an opportunity for Carrefour to speed up its own digital transformation, while at the same time helping early stage companies to grow faster. We have therefore opted for an unprecedented investment fund model in the retail space and are delighted to start this adventure alongside seasoned and well-known investors such as daphni."
The retailer described Dastore as 'another asset to its innovation ecosystem', as it seeks to better anticipate market disruption and 'identify future leaders and wining models'.
As well as financial investment, Carrefour plans to support startups by offering them business acceleration tools, operational support, and easier access to clients, international markets and data insights.
“Dastore is perfectly in line with one of daphni’s strategic aims, which involves creating bridges between startups and corporates – in this case specifically, with Carrefour – in the area of digital retail”, said Marc Simoncini, Partner at daphni.
Elsewhere, Carrefour recently announced an expansion of its partnership with Uber Eats.