Modern Milkman, an UK-based supplier of a sustainable grocery supply service, raised £50M in funding after closing its Series C funding spherical.
Backers included Insight Partners and ETF Partners, Praetura Ventures and Avery Dennison, and buyers.
The firm intends to make use of the funds to extend analysis and growth into new product innovation, pioneering applied sciences and supporting world enlargement methods.
Led by CEO Simon Mellin, Modern Milkman is a sustainable grocery supply service that makes use of radio frequency identification inlays and tags (RFID tags) to observe and monitor the journey of its reusable glass bottles. This expertise has been employed to establish the end-to-end lifecycle of returnable glass bottles in 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.