GROCERY DELIVERY STARTUP Buymie has raised €525,000 in another tranche of funding from investors.
Dublin-based Buymie, founded in 2016 by Devan Hughes and Artavazd Sokhikyan, is a grocery ordering and delivery app.
Through the app, users can order their grocery shopping from local stores, which is then delivered to their homes.
According to documents filed with the Companies Registration Office, the investments come from Enterprise Ireland and the Halo Business Angel Network’s Bloom Equity syndicate, which invested €100,000 and €425,000 respectively.
The fresh injection of cash comes just a few months after the startup raised €520,000 from several existing backers as well as a number of Connacht rugby players. Other previous investors include consumer products giant Unilever.
Chief executive Devan Hughes told Fora that the latest investment will support ongoing expansion plans.
“(We) have accepted new investment from a number of strategic investors to support expansion and investment into the platform’s technology, ensuring we continue to scale with the customer need and demand, and to help our retail partners win in this exciting new channel,” he said.
Buymie’s total funding stands at just over €2 million
Hughes added that Buymie recently entered the top 10 for food app downloads in Ireland and has experienced significant growth over the last year.
“Consumer demand for ‘on-demand’ groceries (has) sky rocketed, with year on year growth of 1,211% in this channel vs 7.5% growth in the traditional next day delivery market,” he said.
The startup has inked a deal with supermarket chain Lidl for a number of its Dublin stores and is reportedly planning a UK launch in the future.