Beyond meat and potatoes: Buymie.ie grocery app secures €7m in new funding to feed rapid expansion plans
Buymie, an Irish same-day grocery delivery platform, has completed a €7m funding round. It follows on from €8m in funding the company raised in 2020. Total funding raised now stands at €18.2m.
The latest round was led by the company’s largest backers, including Grosvenor Food & AgTech (an investment arm of the Grosvenor Estate), Act Venture Capital, Sure Valley Ventures, Haatch Ventures, and HBAN (Halo Business Angel Network).
Other heavyweight investors in this round include Keith Weed, former chief marketing and communications officer for consumer goods group Unilever, and Eamonn Quinn, former deputy chairman of the Superquinn Group and chairman of Buymie.
Founded in 2016, the company has a staff of more than 70 people in addition to a network of more than 400 personal shoppers.
The service is available in Dublin, Limerick, Cork and Galway and in Leeds and Bristol in the UK.
In Ireland, Buymie’s official retail partners are Dunnes Stores and Lidl.
In the UK, it partners with The Co-Op and in March, it announced a major new partnership with Asda to launch the service in Leeds and Bristol.
This is seen as a breakthrough partnership for the company.
The funds recently raised will enable Buymie to continue rapid market expansion both in Ireland and in the UK, with over 200 other cities currently being considered.
Devan Hughes, CEO and co-founder of Buymie, said: “This latest round of funding follows the successful launch of our newest retail partnership with Asda across multiple cities in the UK.
“This capital will allow the business to continue its focus on developing best-in-class technology while helping our retail partners transform their online and in-store capabilities to better serve their customers and unlock growth opportunities.”
Backer Keith Weed, who now sits on the board of both Sainsbury’s and advertising giant WPP, said: “The grocery retail landscape is being transformed by platform technology.
“It is very clear that the growth and margin opportunities of the future for retailers will be unlocked through capabilities facilitated by businesses and technology like Buymie.”
The service has now been used by one in eight households across Dublin.