Cortilia, an Italian Online Local Grocery Marketplace, announced yesterday a €1.5 million round lead by Milan-based Venture Capital firm P101.
This new capital injection brings the total funds raised by the company since its founding in 2011 to €2.5 million and represents the first step of a midterm €5 million Investment Plan. Cortilia aims to expand its market presence in Italy, to invest in R&D hiring new talents and extend the range of products and the fruition modality of the service offered to the public.
With an established market position in Lombardy, the Italian online local grocery marketplace has been chosen by more than 50,000 customers, boasting of annual revenues of over €2 million in 2014.
The Company is now getting ready to speed up its market penetration in Lombardy in order to consolidate its leadership and to launch its service in other Northern Italy’s cities.
Moreover Cortilia is planning to further develop the web platform to seize all the opportunities linked to food e-commerce and mobile commerce, which are rapidly growing in Italy.
Cortilia is the first agricultural online marketplace that allows users to receive at their doorstep boxes of fresh, seasonal products in subscription or occasionally.
This innovative model of purchase – allowing supply and demand to meet without costly intermediaries – responds to the growing need of consumers to eat healthily and sustainable, in just a click away.