Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Software & SaaS
No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact
No Result
View All Result
Silicon Canals
No Result
View All Result

Finnish food delivery startup Wolt raises €142M, focus on smaller markets unlike Deliveroo

Editorial team by Editorial team
June 21, 2019
in News, (Crowd)funding, Startups
0
Finnish food delivery startup Wolt raises €142M, focus on smaller markets unlike Deliveroo
143
SHARES
LinkedInTwitterWhatsAppFacebook

The online food delivery market is one of the massive business opportunities across the world. This market is estimated to grow from $35 billion to a whopping $365 billion in a decade. As it is a massive opportunity, every company in this sector wants to grow along with the industry. One such startup in the food delivery sector that is aimed at disrupting the market is Wolt.

Raised €142M funding

In a recent development, Helsinki-based Wolt, a food delivery startup has raised $160 million (nearly €142 million) in a new funding round. This funding consists of two undisclosed rounds in the past including the $130 million (nearly €115 million) Series C funding led by ICONIQ Capital and $30 million (nearly €26.5 million) Series B funding led by 83North.

 - Partner content -
Cost of software - The Software house
The cost of building software
Marek Gajda, CTO of The Software House, shares his insights on building high-quality...Show More
Marek Gajda, CTO of The Software House, shares his insights on building high-quality software. Show Less
Read more

The other investors that took part in the latest funding round are Lifeline Ventures, Highland Europe and EQT Ventures. The fresh investment raised by the Finnish food delivery startup will be used for the growth and expansion of the company.

Wolt is on a hiring spree!

The company’s co-founder Miki Kuusi stated that they would use the investment heavily towards marketing and acquiring new customers. Wolt is on a hiring spree targeting to hire nearly 1,000 individuals in the next 18 months. Notably, the food delivery startup employs around 450 people right now.

Food delivery based on proprietary technology

Founded in 2014 by Mikko Kuusi in Helsinki, Wolt operates based on its proprietary technology and works with over 5,000 restaurants and 10,000 courier partners across 50 cities in 15 countries across Europe including Prague, Athens, Tel Aviv, Estonia and more. This platform optimises logistics in real-time letting the startup deliver food more efficiently.

Focuses on smaller cities

Unlike food delivery giants including Deliveroo and Uber Eats that focus on the densely populated cities with over 1 billion people, Wolt has its focus on smaller markets with a relatively lower population density. The company witnesses fewer orders and has to cover longer distances in these smaller cities. However, Wolt faces these challenges with machine learning algorithms that predict order flow and optimise the courier routes.

Stay tuned to Silicon Canals for more updates in the tech startup world.

Also read,

Amazon’s IMDb TV to come to Europe later in 2019

close

Want to stay on top of the latest rounds, coolest tech and hottest startups?

Subscribe to our free, daily news blast and stay up-to-date!

Check your inbox or spam folder to confirm your subscription.

 - Partner content -
Nebula CTO Andre Witte
Cloud spend management 😱
Tracking cloud spend can be tricky. Learn from Nebula's CTO Andre Witte how to keep the...Show More
Tracking cloud spend can be tricky. Learn from Nebula's CTO Andre Witte how to keep the costs at bay in 2021. Show Less
Read more
Tags: Finlandfundingstartups
Share10Tweet36SendShare57

Featured events

07apr10:0012:30FeaturedWorkshop: pr for startupsHow to grow your startup with the help of public relations

Partner content | Work with us

Blue Tulip Awards announce 5 finalists in the Food & Water and Education & Employment theme

Impact media foundation 5 Media offers grants up to €100,000 per year to drive a sustainable future

Here’s how cryptocurrency will take over the world

Blue Tulip Awards is driven by purpose: why innovation and equality go hand in hand

Future of coding: CTOs discuss low-code versus custom code software development for their business

Breaking news from Amsterdam | Partner

Here’s why Just Eat Takeaway is expanding its offices in Amsterdam

Amsterdam-based Veylinx uses Nobel Prize-winning approach to solve the problem of unreliable survey data; raises €1.6M

Amsterdam-based fintech unicorn Mollie enters UK market to helps merchants there grow into Europe post-Brexit

Amsterdam-based HR tech Recruitee takes a “shortcut” to a future unicorn status

  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy policy
  • Terms & Conditions Silicon Canals

Silicon Canals 2014-2020 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdam
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact

Silicon Canals 2014-2020 | Website: Bright Idiots

X

This website uses cookies to ensure the best possible experience. We may share this information with our advertising and analytics partners. By clicking 'Accept', you agree to our use of cookies and similar technologies. More info