BroadLight is proud to support Zapp and co-lead its Series B alongside our friends at Lightspeed Venture Partners and 468 Capital. Joining us on the journey is legendary Formula 1 driver, Sir Lewis Hamilton.
We are thrilled to partner with Navid Hadzaad Javaherian, Joe Falter and the deeply experienced Zapp team as they work to transform convenience retail and build the tech-enabled logistical infrastructure to deliver products to millions of customers in minutes.
Launched in 2020, Zapp is among a spate of startups seeking to deliver convenience goods and groceries in around 15 minutes that saw a surge of usage during the pandemic. The company is focused on “convenience mega-cities” such as London and Amsterdam, with the new funding taking the business’s total capital raised to $300 million since being founded.
JPMorgan Chase & Co. was Zapp’s financial adviser on the transaction.
The new funds will be used to improve Zapp’s technology and customer service following the opening last year of a larger distribution center in London, which makes it easier to restock its smaller microfulfillment centers in the city. Investment will go both toward existing markets and developing new ones, Chief Executive Officer Navid Hadzaad said in an interview.
Read more at Bloomberg