Wolt isn’t exactly a household name in North America, but it has become a global force in the delivery space. The latest funding round was led by ICONIQ Growth. One of last year’s investors was Lukasz Gadowski, co-founder of German-based DeliveryHero, which operates a network of local delivery brands worldwide. Wolt has raised $662 million over the past year and $856 million since the company launched in 2015, serving just 10 restaurants in Helsinki. This despite having more than $100 million of cash on hand from earlier funding rounds. So much so that Wolt has just raised a whopping $530 million. The pandemic has acted like a catapult for the company.
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“I spent 11 years as co-founder and CTO of Eniram, a software startup that provided fuel-saving solutions for the shipping industry,” says Jussi Pyörre, Partner at Superhero Capital.Wolt, Finland’s answer to DoorDash, was on a steep trajectory before COVID.
#Wolt helsinkibased 530m iconiq serial
“In 2016, Eniram was acquired for €43M by a stock-exchange listed company because we could refine data into insight that translated into fuel savings and less pollution.”Īs part of this strategy, Estonia-based serial entrepreneur and angel investor Ivo Remmelg and Latvia-based serial entrepreneur Ernests Stals have joined Superhero Capital as Venture Partners. JustEat, another UK-based food delivery behemoth, was acquired by Amsterdam-based in a deal worth 7.3bn in 2020.
“The number of startups in the Baltic countries increased by 44% from 2018 to 2019. Wolt, which was founded in 2014, was a pioneer in the European food delivery sector. It has over 4,000 employees and operates in 23 companies. Frankly speaking, if you had asked me a few months ago, I would have said. ITV was 2.2 or 3.3p higher to 152.8p amid speculation it is weighing up a PS90m bid for Helsinkibased production house Nice Entertainment Group, which would add to the groups stable of original content and further reduce its reliance on volatile advertising markets. I think a change like that in one year says something about the current Baltic opportunity,” says Ivo Remmelg, who also is the acting President of EstBAN, the Estonian Business Angels Network.
The new fund will make initial investments sized up to €1M, with typical investments being around €0.4M. Companies below are listed on Nasdaq Helsinki. Its first investments include Lithuanian urban delivery platform Ziticity, which has already expanded to 11 cities across three countries. Finnish food-delivery company Wolt has closed a 530 million financing round. For viewing other markets or segments, please use the links in the right column. 2022 IONIQ 5 RWD 303-mile range based on a fully charged battery and combined MPGe. According to a press release, the round was led by ICONIQ Growth while Tiger Global, DST, KKR, Prosus, EQT Growth, and Coatue joined as new investors. SE/SEL/Limited RWD: MPGe 132 City/98 Hwy/114 Combined MPGe and 303 mile driving range. SE/SEL/Limited AWD: MPGe 110 City/87 hwy/90 Combined MPGe and 256 mile driving range. SE RWD (Standard Range): MPGe 127 City/ 94 Hwy/110 combined MPGe and 220 mile driving range.
“We have invested in 4 startups during COVID-19, are actively looking for more, and encourage founders to reach out to us. Don’t hesitate, it is never too early to have a chat,” says Kasper Suomalainen, Investment Manager at Superhero Capital.
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