Modern Milkman, an UK-based supplier of a sustainable grocery supply service, raised £50M in funding after closing its Sequence C funding spherical.
Backers included Perception Companions and ETF Companions, Praetura Ventures and Avery Dennison, and traders.
The corporate intends to make use of the funds to extend analysis and improvement into new product innovation, pioneering applied sciences and supporting international enlargement methods.
Led by CEO Simon Mellin, Fashionable Milkman is a sustainable grocery supply service that makes use of radio frequency identification inlays and tags (RFID tags) to watch and monitor the journey of its reusable glass bottles. This expertise has been employed to determine the end-to-end lifecycle of returnable glass bottles within the UK, decreasing waste and rising eco-efforts throughout the grocery sector.
Now, working with a community of unbiased suppliers, the model boasts 16 hubs throughout England.