Leading French grocery and fresh food delivery service company La Belle Vie has raised €25 million ($28 million) in a Series B round as part of its plans to expand its offer across France in 2022.
The investment brings its total funding to more than €42 million since it launched in 2015, after the company completed two previous fundraising rounds in 2018 and 2020 for €5.5 million and €11.6 million, respectively.
This round was led by Left Lane and Quadrille Capital, two funds that specialize in technology investments in the United States, Europe and China, with participation from other funds and investors from previous rounds, including Capagro, a French venture capital fund dedicated to the food and agribusiness industries.
Founded in 2015, the Parisian online grocery platform offers more than 17,000 products and everyday items, including 4,000 fresh products, which are delivered within a timeframe of one to three hours across 1,300 cities in the French region of Ile-de-France.
Overall, the e-grocer’s 500 employees make 15,000-plus deliveries a week, made possible by the firm’s proprietary supply chain solution, its seven Parisian warehouses and a partnership with Système U, a retail cooperative of about 800 independent hypermarkets and supermarkets in France.
Commenting on the raise, Founder of La Belle Vie Paul Lê said: “Since day one, we have been obsessed with profitability, with extremely tight control of our margins and supply chain, but also with the social aspect, with the employment of over 600 people on permanent contracts.”
Lê added: “La Belle Vie is a wonderful human adventure, and we are thrilled to be supported in our growth by international and French investors that are as prestigious as they are experienced.”
In addition to expanding its grocery delivery service across France, the funding has been earmarked to accelerate the company’s Quick Commerce solution, Bam Courses, which launched last September. With Bam Courses, the online hypermarket is able to deliver more than 2,500 products throughout the French capital in 15 minutes, leveraging the firm’s seven distribution hubs in Paris.
Carrefour Targets Ultra-Fast Grocery Delivery Space
Across Europe, the fast-growing delivery trend is gaining traction, as consumers’ appetite for faster delivery options continues to increase and more established players vie for a piece of the pie.
French retail giant Carrefour has made the acceleration of eCommerce a key focus as it looks to establish its leadership across its key markets through partnerships in express delivery (less than three hours) and the ultra-fast grocery delivery space.
Related news: France’s 15-Minute Grocery Delivery Startup Cajoo Raises $40M as eGrocery Space Grows
In September, the European retail giant injected $40 million for a minority stake in French grocery startup Cajoo, which operates a 15-minute bicycle delivery service in 10 major cities across France.
Also related: Carrefour, Deliveroo Bring 30-Minute Grocery Delivery to France
Prior to that, the retail behemoth extended its partnership with British online food delivery company Deliveroo, taking its 30-minute on-demand grocery delivery service in Belgium, Italy and Spain to its French home market.
Read more: French Retailer Carrefour Pursues Quick eCommerce Ambitions in Europe
In May, the French multinational announced that its partnership with Uber Eats in France is now making deliveries to people’s homes in about “10 to 20 minutes” across 100-plus cities in France.
See also: Gorillas Aims to Bring eGrocery Into the Future With Lightning-Fast Delivery
Germany’s Delivery Hero is another player making waves in the on-demand delivery space. Last month, the online food delivery service announced it was backing on-demand, Berlin-based grocery delivery platform Gorillas with a $235 million investment for an 8% stake in the company, leading the startup’s Series C funding round.
Launched in 2020, Gorillas offers last-mile on-demand delivery of grocery items and other essentials, opening more than 140 warehouses and delivering 4.5 million orders in the first six months of this year. The firm currently operates across nine countries — the U.K., the U.S., Belgium, Denmark, France, Germany, Italy, the Netherlands and Spain.
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