Raison Asset Management has invested €300,000 in Portuguese food tech startup Bairro, which specializes in express delivery of groceries, ready meals, and household goods. The investment was made through the SAFE (Simple Agreement for Future Equity) format.
The service launched in Lisbon in April 2021. The competitive advantage of Bairro is delivery in 15–20 minutes and the presence of its own dark stores. Today, the startup team has about 140 employees who serve more than 5,000 orders a week.
By the end of 2022, the startup plans to increase the number of dark stores in Portugal to 45 and enter the Moroccan market with 5 dark stores. The company also plans to launch its white label product line, which will significantly increase the business margin.
In total, the startup has raised €3.7 million in venture funding since its launch. Apart from Raison Asset Management, Bairoo is backed by TMT Investments, Startup Lab, Flyer One Ventures, and Insta Ventures.
Bairro is the second European food tech startup in the Raison Asset Management portfolio. The fund has also invested in GetFaster, a German grocery delivery service that positions as a soft discounter and now operates in more than 100 German cities.