Rohlik, the Czech grocery delivery company, has announced $170 million in new funding as it continues to experience growth and success in the market. Unlike other grocery delivery startups, Rohlik has differentiated itself by focusing on smaller warehouses and forming partnerships with local producers and sellers. This strategy allows Rohlik to offer a wide range of products, with around 17,000 SKUs available for delivery within 1-2 hours of ordering.
With the new funding, Rohlik plans to expand its model across Europe and also license its technology platform to other delivery players. By doing so, Rohlik aims to help these players build their own local networks and delivery operations based on its successful model.
The European Bank for Reconstruction and Development (EBRD) is the lead investor in this funding round, with previous backers also participating. The funding includes both equity and debt, with the EIB portion being described as a minority of the total amount. While the exact valuation of the round was not disclosed, it is believed to be higher than previous valuations but less than $2 billion. In total, Rohlik has raised close to $800 million in equity and debt.
This latest funding comes at a challenging time for the grocery delivery industry. After experiencing significant attention, funding, and usage during the peak of the Covid-19 pandemic, many startups in the space have struggled and faced layoffs and restructuring. However, Rohlik aims to navigate these challenges by closely observing the actions of other players in the market and building defenses accordingly.
Rohlik currently operates not only in the Czech Republic but also in Hungary, Austria, Germany (where it operates as Knuspr), and Romania. The company has achieved profitability in its home market, Hungary, and Munich. Its goal is to reach €1 billion in revenues and positive cash flow by the end of 2024. While its current revenue figures are undisclosed, Rohlik remains optimistic about its growth prospects.
The European Bank for Reconstruction and Development (EBRD) expressed confidence in Rohlik’s growth plans, praising the company’s investment in technology and automation. The EBRD is proud to support Rohlik’s expansion and development in the coming years.
Overall, Rohlik’s ability to adapt its business model and focus on local partnerships has positioned it well for success in the grocery delivery industry. With new funding and plans for expansion, Rohlik aims to further solidify its position in Europe and help other delivery players replicate its successful model.
