Cortilia, a Milan, Italy-based online local grocery marketplace, raised €1.5m in funding.
The round, which represented a part of a €5m midterm investment plan, was led by Programma 101 (P101).
The company, which has raised a total of €2.5m, intends to use the funds to expand operations and consolidate its market position in Italy, invest in R&D by hiring new people and extend the range of products.
Launched in January 2011 by Marco Porcaro, CEO, Cortilia is an agricultural online marketplace that allows users to receive boxes of fresh, seasonal products from local farmers at their doorstep. According to a note, it has more than 50,000 customers and annual revenues of over €2m in 2014 (year to date).
Other investors in the company include Seed Digital Investments Sca Sicar, Boox, Club Italia investimenti and a number of business angels.
FinSMEs
05/11/2014