Bill & Melinda Gates Foundation led a $703m Series D round in Picnic.

Bill & Melinda Gates Foundation led a $703m Series D funding round in Picnic, a grocery services provider. The proceeds from this round will help Picnic to accelerate the roll-out of its services in Europe, especially Germany and France. The funds will enable the company to invest in automated fulfillment centers, electric vehicles, and the expansion of Picnic’s tech team. The sustainable concept, in which groceries are delivered for free to customers’ homes with electric vehicles while also avoiding food waste, is one of the main transformational elements of Picnic’s delivery model.