Arive apparently raises $20 million

The startup delivers high-value goods such as electronics, cosmetics or even electric bikes within 30 minutes.

Munich-based startup Arive has raised $20 million in a Series A funding round, as Techcrunch reported. London-based venture capital firm Balderton Capital led the round. Also joining the round are investors Global Founders Capital, Burda Principal Investments, La Famiglia and 468 Capital. La Famiglia and 468 Capital are existing investors: they already invested as part of the company's seed round.

Arive launched just four months ago - and is currently active in just four German cities: Berlin, Hamburg, Munich and Frankfurt. However, with the help of the capital, the startup is now looking to expand across the country and consider what additional markets it could tackle.

The company delivers goods within about 30 minutes, similar to grocery delivery services. One big difference, however, is that the focus here is not on supermarket goods, but primarily on high-end products, some of which are in the luxury segment. For example, electrical products from Apple, Bose and others are on offer, as are expensive sportswear and cosmetics. Customers can even order electric bicycles or furniture via Arive.

One reason for the high investments is probably the start-up's good figures: The average order size is said to be between 50 and 100 euros. In addition, there are said to be between one and four items in the shopping cart on average. This shows that Arive customers apparently order mainly high-priced products.