Rohlik Group bags $170 million in fresh growth capital for European expansion plans ahead of IPO
European food retail technology and online grocery firm, Rohlik Group, has raised $170 million in fresh growth capital.
The investment was led by the European Bank for Reconstruction and Development (EBRD), alongside existing investors Sofina, Index Ventures, Quadrille, and TCF Capital and complemented by growth capital funding from the European Investment Bank (EIB) under its Scale-Up Initiative.
The cash will be used to fuel Rohlik’s expansion plans in DACH and CEE, where the company aims to establish its presence in more than ten additional cities by 2030.
Founded in 2014 in the Czech Republic, it now delivers over a million orders per month, and served over 800,000 customers in 2023. It has now reached profitability in Munich, having already done so in the Czech Republic and Hungary.
Rohlik says that this is driven by a best-in-class local assortment of goods, which ranges from fresh food from local farmers and artisans to supermarket goods, pharmacy items and private label brands, alongside competitive prices, high levels of customer service and fast, reliable delivery, powered by an innovative proprietary technology infrastructure.
It operates automated fulfilment centres, leveraging a host of AI, ML and robotics technologies, and offers 15-minute delivery windows and same-day deliveries available as soon as one hour after booking. 97% deliveries are said to be on time.
Rohlik is currently targeting revenues of over €1 billion with positive cash flow for the 2024 financial year, as it works towards an IPO.
Tomáš Čupr, Founder and CEO at 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.”
“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.”
Tamas Nagy, Director, Co-head of Equity Investments at the European Bank for Reconstruction and Development (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, Vice-President at the European Investment Bank (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.”
Vineta Bajaj
We’re hugely pleased to announce the addition of Vineta Bajaj, Group CFO, Rohlik Group to our 2024 RTIH Innovation Awards judging panel.
The awards celebrate global tech innovation in a fast moving omnichannel world.
Our 2024 winners will be announced at the 2024 RTIH Innovation Awards ceremony, which will be held at RIBA’s 66 Portland Place HQ in Central London on Thursday, 21st November.
It’s free to enter and you can do so across multiple categories.
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