Lewis Hamilton is one of the investors in an on-demand grocery startup Zapp, which was founded in late 2020.
The start-up raised $200 million from top tech funds, Singapore’s sovereign wealth fund, and Lewis Hamilton, with the aim of accelerating its growth.
The company delivers groceries and convenience store items to your door in as little as 10 minutes. It has a network of “dark stores” that allow for quick delivery.
The new shopping habits brought on by the COVID-19 pandemic helped the company grow rapidly over the last year and it is now reportedly on track for annual revenues of $50 million.
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Zapp’s head of strategy Steve O’Hear says the raised funds would go towards building its infrastructure, in what he called a “20 year journey to rebuilding the supply chain”.
“What we think will win in this space is good old fashioned customer experience. It’s about under-promising and over delivering,” he continued.
“That requires a lot of hard work behind the scenes.”
O’Hear didn’t want to comment on Hamilton’s exact stake, but said his involvement was “fantastic”.