🏆 Deal of the Week · CW 2/2024
Picnic raised EUR 355 million in a venture round of undisclosed series stage, with the valuation remaining undisclosed. The round was announced in January 2024 and counts Edeka and the Bill and Melinda Gates Foundation Trust among its investors.
Picnic — key deal facts
| Company | Picnic |
| Founded | 2015 |
| Headquarters | Amsterdam, Netherlands |
| Amount raised | EUR 355M |
| Valuation | Valuation Remains Undisclosed |
| Round | Venture – Series Unknown |
| Investors | Edeka (https://www.edeka.de/) Bill and Melinda Gates Foundation Trust (https://www.gatesfoundation.org/) |
| Sectors | Food & Beverages |
Who invested in Picnic?
The round was backed by Edeka, one of Germany's largest food retail cooperatives, and the Bill and Melinda Gates Foundation Trust. The investor mix is notable for combining a major European grocery incumbent with one of the world's most prominent philanthropic investment vehicles, signalling both commercial and broader societal interest in sustainable food distribution.
What does Picnic do?
Picnic is an online supermarket headquartered in Amsterdam, Netherlands, founded in 2015. The company delivers groceries directly to consumers via a mobile application, offering fresh produce, pantry staples, and household items with no delivery charge. Picnic operates in the Netherlands, Germany, and France, optimising logistics routes to keep prices competitive while eliminating the overhead associated with physical retail. Michiel Muller serves as CEO and co-founder.
Picnic valuation & multiples
No verified multiples data is available for this transaction, as the post-money valuation was not disclosed. Without a confirmed enterprise value, EV/Sales and EV/EBITDA ranges cannot be calculated for this round. For sector benchmark multiples relevant to online grocery and food delivery businesses, see the Venionaire DealMatrix Food & Beverages sector multiples pages.
Frequently asked questions
How much did Picnic raise in its Venture – Series Unknown?
Picnic raised EUR 355 million in a venture round of undisclosed series stage, announced in January 2024.
What is Picnic's valuation?
Picnic's valuation in connection with this round remains undisclosed.
Who invested in Picnic?
The round was backed by Edeka and the Bill and Melinda Gates Foundation Trust.
When was Picnic founded and where is it based?
Picnic was founded in 2015 and is headquartered in Amsterdam, Netherlands.
Source: original announcement — read the full report.