Modern Milkman, an UK-based provider of a sustainable grocery delivery service, raised £50M in funding after closing its Series C funding round.
Backers included Insight Partners and ETF Partners, Praetura Ventures and Avery Dennison, and investors.
The company intends to use the funds to increase research and development into new product innovation, pioneering technologies and supporting global expansion strategies.
Led by CEO Simon Mellin, Modern Milkman is a sustainable grocery delivery service that uses radio frequency identification inlays and tags (RFID tags) to monitor and track the journey of its reusable glass bottles. This technology has been employed to identify the end-to-end lifecycle of returnable glass bottles in the UK, reducing waste and increasing eco-efforts across the grocery sector.
Now, working with a network of independent suppliers, the brand boasts 16 hubs across England.
FinSMEs
21/11/2022