The grocery market in Italy is claimed to be huge but the rate at which the industry is moving online is quite low. The Milan-based grocery startup Cortilia intends to fill this gap by delivering fresh food products to homes in the North of Italy. Now, this e-commerce startup has secured funding as it seeks to expand.
First online agricultural marketplace
The Italian grocery delivery startup Cortilia just announced that it secured €34 (nearly £30.7M) Series C funding in a round led by Red Circle Investments (the investment arm of Renzo Rosso) along with previous investors – foodtech fund Five Seasons Ventures, Italian VC Indaco Ventures, Primomiglio and P101. Apart from the funding round, Renzo Rosso also joins the board.
This investment round will be used by Cortilia to fuel expansion as a sustainable B-corp. It follows the Series B investment of €8.5 (nearly £7.7M) that it raised back in 2019.
Green headquarters in Milan
Founded by Marco Porcaro in 2011, Cortilia is a full stack e-commerce company that as a catalogue of over 2,500 food products. Currently, the service is active in Lombardy, Piedmont and Emilia-Romagna. It connects consumers with carefully selected artisans producers, breeders, and farmers. It delivers fresh products to the consumers’ homes safely, quickly and on time.
In 2020, Cortilia witnessed a turnover of €33M (nearly £30M) and over 175% growth as compared to 2019. Currently, it collaborates with over 250 small and medium-sized producers and employs 50 direct employees and over 200 collaborators in the related sectors. Next year, Cortilia plans to inaugurate a new “green” headquarters of 50,000 square meters on the outskirts of Milan.