Here’s the pitch deck Irish grocery delivery startup Buymie used to raise $9 million for UK expansion as coronavirus transforms shopping
- Irish grocery delivery startup Buymie has raised $9 million to grow its business and expand into the UK.
- The delivery app, backed by new investors Wheatsheaf Group, will begin operations in Bristol, UK as part of its growth plans.
- “Back in 2014, I realised that the online grocery business was dysfunctional but that demand would grow,” Devan Hughes, CEO and cofounder of Buymie, told Business Insider in an interview. “Covid has brought around a gold rush of businesses trying to shoehorn same-day grocery delivery but we work because we are an ally of retailers, not a disruptor.”
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Online grocery delivery is one of the few sectors set to benefit from economic changes wrought by the coronavirus pandemic, with shoppers stuck at home during lockdown.
In the UK alone, the online grocery market in 2020 could be worth £16.8 billion ($21 billion) according to research firm Mintel. Mintel links a 33% year-on-year growth in the space to COVID-19, although it’s already a lucrative market for companies that get it right.
It’s with this in mind that Buymie, a grocery delivery startup from Ireland, is making the UK its next market.
Dublin-based Buymie, founded in …continued .
[Source: Business Insider]