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Rocket Internet raises $500-million, has big plans for emerging markets
Rocket Internet is one of the key startup backers in the world. With currently over 75 ventures across the globe, it is also popular for its interests in backing startups in developing markets. Today Rocket Internet announced that it has managed to secure over US$500-million from the Stockholm-based Investment AB Kinnevik and US-based Access Industries since May 2012.
This massive total sum of investments means that Rocket Internet is now a US$1-billion organisation. The organisation tends to develop and support ecommerce companies in the fashion, general merchandise and furniture sectors.
“This is a highly significant investment from our partners Kinnevik and Access Industries. The additional capital supports our goal to be the world´s largest and most successful creator of high impact companies in the internet space and reaffirms the confidence our investors have in our business,” says Rocket Internet co-founder Oliver Samwer.
Some noteworthy startups include the payment service provider and Paymill.com, which also won the Red Herring award. Another is the food delivery service Food Panda, which received US$20-million worth of funding earlier this year. The latter is said to be “currently available to three billion people in over 20 countries.” Not to mention the massive online retailer Zolando and its many counterparts.
Many of these startups have been extremely successful mostly because of having access to markets not yet touched by giants such as Amazon for example. Rocket is targeting Europe, Russia, Latin America, Africa, the Middle East, India, South East Asia and Australia with its ventures -– covering in total five-billion people and 60% of global GDP since 2010.
He further notes his interest in emerging markets stating that “people often refer to all these emerging markets as the ‘rest of the world,’ but we’re talking about 5-billion people here.” The company will continue to take advantage of and support startups in emerging markets.
Samwer says that Rocket Internet “will use the new capital to further strengthen our global presence while continuing to build successful companies together with great entrepreneurs.”