Ultra-fast delivery start-up Kavall raises 50 million SEK in funding round

STOCKHOLM - Swedish startup grocery delivery firm Kavall said on Monday it had raised 50 million Swedish crowns ($5.79 million) in a fresh funding round, with the money to be used to finance expansion.

Kavall, which promises to deliver a range of foods and staples within 10 minutes from an order being placed on its app, said the investment had come from among others, Stockholm-based VNV Global and Inbox Capital.

Kavall was founded in May 2021, with its first operation opening in the Vasastan district of Stockholm.

($1 = 8.6345 Swedish crowns)