Fundz

Berlin’s Mayd Gets ~$34M Series A Injection For Fast Pharmacy Delivery

PRIVATEJan 27, 2022

Round Type

Series A

Commerce And ShoppingTransportation

Description

Berlin-based Mayd, a startup that’s building an on-demand medicine delivery platform in Europe, has fast followed a chunky seed raise last fall — with a €30 million (~$34M) Series A funding round led by US investor Lightspeed Venture Partners.

Quick answer

Mayd raised an undisclosed amount in a Series A round, dated January 27, 2022.

How much did Mayd raise?
Mayd raised an undisclosed amount in a Series A round on January 27, 2022.
What does Mayd do?
This pace of expansion means the startup has already grown to 100+ employees, as well as 350+ delivery riders — who it says are “permanently employed” (this means “directly contracted” with Mayd, i.e. not employed via..

Source: Fundz verified event record.

Who else raised in Commerce And Shopping and Transportation around the same time

Companies in the same sectors as Mayd that raised within 45 days of this round, from Fundz verified event records.

  • Autobrains raised $19M (Series C) on March 10, 2022.
  • Yuno raised $10M (Funding Round) on March 10, 2022.
  • Kicks Crew raised $6M (Series A) on March 9, 2022.
  • HELIXintel raised $4M (Seed) on March 9, 2022.
  • Branch raised $75M (Funding Round) on March 9, 2022.
  • AutoSled raised $5M (Series A) on March 9, 2022.

Who to call at Mayd, and when

A new round usually means Mayd is about to hire and buy. The teams that reach out first get the meeting.

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Company Information

Company

Mayd

About

This pace of expansion means the startup has already grown to 100+ employees, as well as 350+ delivery riders — who it says are “permanently employed” (this means “directly contracted” with Mayd, i.e. not employed via subcontractors). “Until the end of Q2 we plan to launch in two other markets in Europe and currently are looking at our best options.”The startup says typical customers for its pharmacy order delivery service so far skew more female than male, and tend to fall into the 35-45 age range — having a focus on “convenience first”. (Aka: “Our customer base is urban, digital and appreciates our 24/7 service a lot.”) , the startup says it expects to pass 100,000 customers over the course of this year as it expands out from (currently) six cities — soon to be seven, as it dials up service in Stuttgart next week — to more than 50 cities across its operational footprint in the first half of 2022.Berlin’s Mayd bags $15M seed to deliver meds fastArive raises $20M for an instant delivery service beyond groceries and essentialsBerlin’s Yababa snags $15.5M to scale a multicultural grocery delivery biz across Europe Mayd also says its shoppers are ringing up bigger basket sizes than for online groceries.But, well, medicines and ailment potions tend to be relatively expensive vs general groceries so that’s not too surprising. Mayd says it takes a commission on sales of non-prescription pharmacy products but does not charge for delivery. Asked about the looming launch of e-prescriptions in Germany, Mayd claims it will be “the first company on the market to integrate the instant delivery service into our system”, adding: “This way we will be able to fully cover all needs in the area of health.

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Funding Insights

What this usually means
Typical timeline to Series B
Series A companies typically raise their next round in 10-18 months

Mayd raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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