Losses at Delli have widened as the independent food platform sought fresh funding to keep its cash balances in check.
The London-based business, co-founded by Depop creator Simon Beckerman, posted a loss of £6.4m in 2023, its latest accounts show, a jump of more than 80% compared to the previous year.
The company’s cash balances more than halved from £5.1m to £2m over the period.
Delli earlier this month closed a new £4.7m funding round which saw co-founder Simon Beckerman dip into his own pocket to support the business. Previous backers including Balderton Capital also returned. The terms of the deal were not disclosed.
Delli previously raised £6m in a 2022 funding round led by Balderton and HV Capital.
The startup was launched by Beckerman in 2022 alongside its chief executive Marie Petrovicka, formerly an executive at Depop.
Users can buy and sell local food products from pastries, sauces and confectionary to beer and wine through the Delli ecommerce platform.
Drawing from lessons learned in the fashion sector, Delli is hoping partnerships with influencers and a focus on the storytelling and aesthetics of its products can set it apart.
Depop was acquired by Etsy in 2021 in a $1.6bn deal.