Rapid grocery delivery service Zapp has raised £150 million in a funding round supported by Formula 1 driver, Sir Lewis Hamilton, Lightspeed and 468 Capital.
The latest investment boosts the total raised to over £220 million since 2020. It will be used to enhance the company’s customer experience and technology across both new and existing markets as it continues to build and strengthen its ‘need it now’ supply chain.
Zapp launched its first store in West London in summer 2020 and has since expanded across dozens of micro-fulfilment centres across the capital.
Last year, the grocery delivery service opened a new 25,000 sq ft distribution centre in London to reduce out of stock events by enabling same-day replenishment for its London Zappstores.
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“We’re on a long-term journey to build a technology-enabled supply chain that can deliver 1000s of products to 100s of millions of customers around the world faster and more sustainably than any other supply chain can today,” said Zapp co-founder Joe Falter.
“With this new capital, we will focus on achieving profitability in our existing markets as well as bringing Zapp to new customers globally.”
Lightspeed Venture’s Rytis Vitkausakas added: “As people return to their busy lives, rapid delivery allows them to ‘live in the moment’. Zapp has been built from the ground up to harness this consumer behaviour and is seeing exceptional customer loyalty as a result.”
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