Kiwi online supermarket startup, Supie, has secured $2.5 million during its seed funding led by Icehouse and supported by Enterprise Angels.
The company said the funds raised will be invested in driving growth through marketing and the continuation of innovation through the deployment of technology and customer service enhancement.
“We were drawn in by Sarah’s vision for the food industry in New Zealand and her experience in the grocery sector since a young age,” said Icehouse Ventures Partner Barnaby Marshall. “The grocery industry in New Zealand is concentrated and lacks competition. We were drawn in by the opportunity to create a more diverse consumer offering and a more fair operating model for suppliers.”
Supie was founded last May by Pukekohe local Sarah Balle and initially introduced in Auckland, featuring a range of more than 4000 products to more than 6000 members through a direct-supply model. The initiative started with a focus on delivering an alternative to traditional supermarkets.
During the recent lockdown, the business recorded a growth rate of 1700 per cent.
“We are providing a choice for Auckland households to put their hard-earned money into supporting a Kiwi supermarket who genuinely supports New Zealand’s food producers, and we’re humbled to see the amount of interest in Supie,” said Balle.