Fashionable Milkman has secured a £10 million funding to speed up progress throughout the UK, increase its US footprint and develop new sustainable doorstep companies, taking its complete funding to greater than £60 million.
The Manchester-based enterprise mentioned the funding will assist the continued evolution of its doorstep supply mannequin, because it builds out a broader logistics platform designed to make sustainable grocery buying simpler and extra handy for households.
The funding comes from Salica Investments, marking the primary direct-to-consumer enterprise backed by Salica’s Progress Debt Fund. Fashionable Milkman mentioned the backing displays rising investor confidence in circular-economy fashions that mix sustainability with scalable infrastructure.
Based in 2019 by Simon Mellin, Fashionable Milkman now delivers to greater than 100,000 households throughout the UK, supplying milk and groceries in reusable packaging. The corporate expanded into the US in January 2024 by a strategic acquisition and at the moment operates in Connecticut, Massachusetts, Rhode Island, Ohio and New York.
Mellin mentioned the funding would enable the enterprise to maneuver past its unique milk spherical idea and introduce a brand new era of built-in companies.
“Fashionable Milkman has constructed a robust, distinctive and handy providing for households throughout the UK,” he mentioned. “This well timed funding from Salica allows us to transcend buyer expectations and unlock a broader vary of built-in doorstep companies.
“Our progress and buyer satisfaction present there’s clear demand for sustainable options. With this backing, we’re properly positioned to scale whereas serving to households scale back their environmental impression.”
The corporate plans to leverage its current supply infrastructure to introduce extra companies that match inside its round economic system method, decreasing waste and emissions whereas enhancing buyer comfort.
Usman Ali, associate in Salica’s Progress Debt Fund, mentioned Fashionable Milkman stood out for each its management and long-term imaginative and prescient.
“Fashionable Milkman is a enterprise with distinctive management and a transparent technique,” he mentioned. “Its dedication to sustainability and the round economic system creates long-term worth whereas addressing international environmental challenges.”
The newest funding spherical represents a major milestone for Fashionable Milkman because it seeks to ascertain itself as a worldwide chief in sustainable doorstep supply, at a time when shoppers and traders alike are more and more centered on environmental impression and low-waste dwelling.
