Modern Milkman raises £5m to grow sustainable grocery shopping in the UK
The Manchester-based business delivers groceries from independent and local suppliers directly to customers’ doorsteps in returnable and reusable packaging.
The investment tallies with ETF Partners’ mission to fuel digital innovation in sustainable European start-ups.
TMM, which started out as a milk delivery service, has grown its revenue tenfold in 2020. With the new financing, TMM will expand beyond northern England across the UK, fulfilling its target to help consumers shift away from single-use plastic and lead a sustainable lifestyle, without compromising on convenience. To date, TMM has helped reduce more than nine tons of single-use plastic.
The funding decision follows a transformative year in the grocery industry, as demand for food deliveries increased as a result of the COVID-19 outbreak and more UK consumers shopping online.
Simon Mellin, founder and CEO of TMM, said, “ETF was the obvious choice of investor for us and we’re thrilled to have their support as we move into the next phase of our journey. We believe their 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 from ETF Partners said, “In today’s world, many of us are looking to reduce our environmental impact on the planet, but convenience remains key to daily life. In today’s world, many of us are looking to reduce our environmental impact on the planet, but convenience remains key to daily life. The team at TMM have masterfully responded to the ever-changing nature of consumer requirements, and thus have experienced significant growth over the past year.
“We have full confidence that TMM will play an important role in changing how we consume food, and we continue to be impressed by the founders and their commitment to sustainability.”
