Highland backs €21m round for Alkemics

Alkemics expects to benefit from the growth in the grocery market in the wake of the coronavirus crisis, according to a statement, since sales in the online grocery market have grown by 30% in April 2020 alone.

The company plans to use the fresh capital to launch its platform in Germany, Benelux and the Nordic region, having already launched in the UK and France.

Highland is currently investing from Highland Europe Technology Growth III, which held a final close in June 2018 on €463m. The firm generally makes equity investments of €10-50m.

Index Ventures held final closes for its two latest vehicles Index Ventures X and Index Ventures Growth V totalling $2bn in April 2020.

Cathay Innovation II held an interim close on €500m in May 2020 and is targeting €600m. At the time of its first investment in Alkemics, the GP was deploying equity from its first €287m Innovation fund.

Sweden-headquartered SEB's venture capital strategy generally targets fintech companies, making initial investments of SEK 10-30m and up to SEK 80-100m in total.

Previous funding
In March 2015, Alkemics raised a €5m series-A funding round backed by Partech, Index Ventures and SEB.

In September 2016, Cathay Capital, Index, SEB, Partech and Serena Capital backed a €20m series-B for Alkemics. Serena made its first investment in Alkemics from its second fund. At the time, the company had partnerships with 2,500 brands; it now works with 17,000 brands, according to a statement.

Company
Alkemics is a B2B software platform that allows suppliers and brands to launch their products in partnership with retailers. It also allows retailers to source suppliers for out-of-stock products. Founded in 2011 and based in Paris, the company employs 90 people and has partnerships with grocery retailers including Tesco, E Leclerc and Intermarché.

People
Highland Europe – Tony Zappala (partner).
Alkemics – Antoine Durieux (co-founder, CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• France
• Technology
• Venture
• France
• Cathay Capital
• Index Ventures
• Highland Capital Partners
• SEB Venture Capital
• Serena Capital