MILAN, July 8 (Class Editori) — Tulips, Italy's first fast-growing purely online supermarket, successfully closed its third 4-million-euro financing round on June 30. The amount was subscribed by a select number of entrepreneurs, professionals and investors. "We are already working on a new 2-million-euros raising of capital," Enrico Martini, CEO of Tulips and co-founder of the company along with Mattia Mordenti, announced.
Tulips' new round is aimed at acquisitions
While the previous round was aimed at investments, mainly in technology, in order to upgrade and robotize the four dark stores of Cesena, Rimini, Ravenna and Bologna, the new capital is aimed at initial acquisitions. The sharp slowdown in consumer spending in the last few months due to high energy costs has hit the entire online retail sector, which had benefited from lockdowns during the pandemic. Especially struggling are some young and smaller companies. "We are looking at realities that can profitably integrate into our business model, not only in Emilia Romagna where we are active today,” Martini stated.
Tulips (+84% on 2020) aims to double revenues
A Cesena-based innovative company, Tulips, through its local dark stores —which are real supermarkets but without public access— offers quality local products, with fresh and super-fresh processing, delivered in three hours, with a strong focus on sustainability and the environment. The business model, based on a fully integrated supply chain to manage both goods and customers, ensures great profitability, as stated by the company led by Enrico Martini, which closed 2021 with 5 million euros in sales (+84% over 2020) and aims to double revenues this year. 32,000 customers were served and about 2 million products were delivered in 2021 with an average receipt of 75 euros, in line with online sales of Italy’s major large retailers.
7.3 million euros raised in the previous three rounds
For Tulips, the fourth round of capital raising is about to start. Prior to the just closed 4 million euros round, the company had collected 300,000 euros from the first round through the CrowdFundMe platform and subsequently 3 million euros from MT, owned by entrepreneur Gianluca Marchetti, totaling 7.3 million euros and now the fourth 2-million-euro round is starting.
(Source:Class Editori)
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