Prague-based Rohlik Group, a European e-grocery retailer, announced that it has secured €160M in a fresh round of growth funding.
The round was led by the European Bank for Reconstruction and Development (EBRD), with participation from existing investors Sofina, Index Ventures, Quadrille, and TCF Capital.
Additionally, the European Investment Bank (EIB) contributed growth capital through its Scale-Up Initiative.
Tamas Nagy, Director and co-head of Equity Investments at the EBRD, says, “We first partnered with Rohlik three years ago and have been continuously impressed by the management team’s execution and investment into proprietary technology, automation and increasing use of artificial intelligence across its operations. We are very proud to support Rohlik’s growth and expansion plans in the years to come.”
Kyriacos Kakouris, VP of the EIB, adds, “This financing marks the first operation under the EIB Scale-up Initiative, designed to support more mature growth companies like Rohlik. It underscores our commitment to fostering innovation and digitalisation across Europe, particularly in sectors crucial to the competitiveness of our economy.”
Rohlik Group: Everything you need to know
Founded in 2014, Rohlik Group deals in online grocery and aims to lead Europe’s food retail technology sector. It offers product variety, rapid and dependable delivery, and leveraging technology and automation throughout its operations.
The company provides a wide range of 17,000 products, including fresh local foods, supermarket items, and private labels. Rohlik operates advanced, fully automated fulfillment centres powered by AI, machine learning, and robotics to ensure high-quality service.
It ensures quick, dependable service with 15-minute delivery windows and same-day options starting within an hour of booking, boasting a 97 per cent on-time delivery rate.
The company is currently operational in the Czech Republic (Rohlik.cz), Hungary (Kifli.hu), Austria (Gurkerl.at), Germany (Knuspr.de) and Romania (Sezamo.ro).
Capital utilisation
By integrating advanced technology with a customer-focused strategy, Rohlik has developed a scalable and efficient business model.
The new funds will be focused solely on growth and expanding market presence. Rohlik’s ambitious target is to surpass €1B in revenue with positive cash flow for the 2024 financial year.
The funds will also support Rohlik’s expansion strategy in the DACH (Germany, Austria, Switzerland) and CEE (Central and Eastern Europe) regions. The company plans to establish its presence in over 10 additional cities by 2030 with these funds.
Tomáš Čupr, founder and CEO of Rohlik Group, says, “There is huge demand across Europe for online groceries delivered quickly and reliably without any compromise on quality. We don’t see that as a short-term phenomenon, but as a long-term opportunity around which to build a market-leading proposition.”
“At Rohlik, we have built the technology to deliver on that promise in a sustainable and profitable way, leveraging AI, ML and robotics technology with our obsession with customer service to drive maximum efficiency and high productivity.”
“This funding will allow us to accelerate our growth, opening facilities in more than 10 new cities, and set the standard in online grocery delivery across Europe.”
Growth and profitability
Rohlik, founded to meet the rising demand for high-quality online groceries, claims to have seen rapid growth across DACH and CEE.
With over a million monthly orders and 800,000 customers in 2023, the company achieved profitability in Munich, the Czech Republic, and Hungary, proving scalable and sustainable. The September 2023 acquisition of Bringmeister has bolstered its footprint in Germany.
Rohlik has achieved a 40 per cent growth post-COVID. The company claims its success is fueled by a diverse range of locally sourced products, including fresh foods from local producers, supermarket items, pharmacy products, and private-label brands.
Rohlik is strategically balancing mature, profitable cities with growing markets, paving the way towards an anticipated initial public offering (IPO) in the coming years.
01
Dutch at Slush 2024: Meet the four 4TU startups who are fundraising at the world’s most founder-focused event