Pieter Pot raises €9 million
Dutch grocery delivery startup Pieter Pot has raised 9 million euros in a funding round. The company will use this capital injection to accelerate its expansion. Pieter Pot is already active in the Netherlands and Belgium, but now wants to expand its range across more European markets.
Pieter Pot was founded in 2019 and has been scaling up quickly ever since. Through the website, customers can order groceries such as olive oil, cookies and peanut butter. The groceries are delivered in mason jars, which make small packing material obsolete.
Circular grocery delivery
The company was founded because co-founders Jouri Schoemaker and Martijn Bijmolt noticed that consumers were looking for more sustainable solutions. “Consumers want sustainability, without having to put in much effort”, said Schoemaker. This is why Pieter Pot takes back the mason jars when delivering the next order, making Pieter Pot’s business model circular.
70.000 customers in the Netherlands
According to Pieter Pot, is now has 70.000 customers in the Netherlands, 10.000 customers in Belgium and 30.000 customers on the waiting list. With the new funds raised, the company wants to grow further within the Netherlands, expand its product range and enter more European markets.
‘The scale on which you operate is important in becoming financially healthy.’
“With a circular delivery service like ours, where there are double transport costs because of collecting the empty packaging and cleaning it as well: the scale on which you operate is of great importance in becoming financially healthy. At the same time, we also need to continue to tempt consumers with the sustainable option”, says Schoemaker.
Plans to enter European markets
In November last year, Pieter Pot raised 2.7 million euros in a previous funding round. These funds were used to create a new website and for collaborations with well known brands. In June this year, Pieter Pot announced its expansion to Belgium and Schoemaker has already mentioned that the company wants to enter Germany, the UK and Scandinavia next.
‘Pieter Pot expects to reach the break-even point in 2023.’
The newest funding round was led by the Environmental Technology Fund, with investors such as Shift Impact, Future Food Fund and InnovationQuarter. “Pieter Pot is at the epicenter of multiple trends, including sustainability and technology, and reimagining a sector central to everyday life, specifically groceries”, says Tomer Strikovsy, investment manager at lead investor ETF. “It is exactly the sort of business we are looking to invest in: a unique service offering in a burgeoning, continually growing sector, led by a team hyper-focused on having an impact through their sustainable, scalable company.”
The raised 9 million euros will not only be used for international expansion, but also for the development of a new mason jar of lighter material and the automation of the cleaning process. The company expects to reach the break-even point in 2023.