£5M funding from ETF Partners
In a recent move, The Modern Milkman just announced that it raised £5M funding from ETF Partners. The company will use the investment to provide an impact in the UK during 2021.
Simon Mellin, the company’s founder and chief executive, said “ETF Partners’ insight, skill and experience in the sustainability space will help us deliver the positive impact we strive to have on the environment at pace, as we move forward with our expansion plans across the UK over the course of 2021”.
Tomer Strikovsky, Investment Manager, ETF Partner, said: “In today’s world, many of us want to reduce our environmental impact on the planet, but convenience remains the key to our daily lives. We are fully convinced that modern milk deliverers will play an important role in changing the way we consume our food, and we continue to be impressed with the founders and their commitment to sustainability.“
Strong demand during pandemic
As per The Modern Milkman, it has witnessed increased revenues of up to tenfold in 2020 during the COVID-19 pandemic. It is one of the companies that have been benefited during the pandemic crisis. The Modern milk deliverers have enjoyed a strong demand during uncertain time. Given that it has to deliver tens of thousands of milk bottles weekly in Manchester, Leeds and Lancashire, customers can order by 9 PM and get the same delivered by 7:30 AM the next day.
Plastic-free milk supply
The Modern Milkman claims to have reduced the use of 9 tonnes of disposable plastic through a service that develops returnable and reusable packages.