The online food delivery market seems to have become the one sector that is offering massive business opportunities globally. There was slow growth in this sector in 2020 due to the economic slowdown across countries owing to the lockdown. However, the global online food delivery market size is projected to exceed $164.5B (approx €135.4B) by 2024, expanding at a CAGR of 11.4 per cent during 2019-2024. Every company in this sector wants to grow along with the industry, and one such startup in the sector that wants to disrupt the market is Wolt.
Wolt raises €436.4M
The Helsinki-based food delivery company specialising in real-time logistics optimisation has raised $530M (approx €436.4M) in a fresh round of funding led by ICONIQ Growth. Besides, Tiger Global, DST, KKR, Prosus, EQT Growth, and Coatue also participated in this round as new investors.