The last mile delivery, next day delivery and same day delivery are still challenging things for delivery startups. In the meantime, premium tech delivery brand, Cosaporto, whose retail partners include London-based Peggy Porschen, Unico Gelato, NIO Cocktails and Maison Samadi has raised €1.8M (£1.56M) in a new funding round.
This latest investment will support the growth and expansion of Cosaporto in the UK. The digital marketplace which delivers artisanal food, wine and gifts across London, has secured the capital from a venture capital firm based in Milan.
Stepping into the UK with further funding support
Cosaporto operates in several Italian cities, including Rome, Milan, Turin and Bologna, and last year it launched a London arm of the business. The brand offers concierge-style delivery, allowing products to be collected from premium independent shops, producers and artisans and delivered direct to city doorsteps within hours of ordering.
The ‘bundling’ service means goods from multiple high-end retailers can be delivered at the same time. With Cosaporto’s ‘flash’ for the London specific market, Cosaporto emphasis on premium delivery within an hour of placing an order. Cosaporto also prides itself on its approach to minimising environmental impact, with the business in Italy having its own fleet of electric delivery vehicles.
Collaboration with premium establishments as a trusted delivery partner
In Italy the brand has collaborated with Nobu, Emporio Armani Restaurants and lifestyle brand Acqua di Parma, alongside other Michelin starred establishments, chefs and brands to become a truly recognisable and respected delivery name. Besides further investment being ploughed into the London arm of the business, Cosaporto is setting its sights on Paris, which will be the next city outside of Italy to welcome the service.
Founder and CEO of Cosaporto, Stefano Manili comments: “This past year Cosaporto has gone from strength to strength in Italy, with the business seeing a 600% increase in orders year on year, along with a 30% rise in the average spend of each customer. COVID-19 has meant a complete re-shaping of the delivery market which has allowed us to really thrive and cement our brand amongst the public. This new capital will allow us to turn our attention to the UK arm of our business and inject cash where needed to foster the same growth we’ve seen in Italy. Not only are we looking to grow our customer base, but to double the number of carefully selected partner stores from 35 to 70 in London by the end of the year. Being backed by a new investor with strong credentials brings a huge amount of confidence and we look forward to realising our strong growth potential.”
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