An online grocery service, whose founder was inspired to set up the business after watching David Attenborough's Blue Planet, has secured a £2.25m investment.
Modern Milkman, which is headquartered in Colne, Lancashire, has received the backing from a Manchester-based Praetura Ventures.
The business uses data and analytics to map out milk rounds, assess demand and reduce carbon emissions.
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The business works closely with decision intelligence firm Peak AI, another of Praetura Ventures' portfolio companies, to combine information such as shelf-life dates, customer ordering patterns and warehouse data to ensure customers receive deliveries on time with minimum waste in the supply chain.
Modern Milkman, which has 16 hubs across England, also works with independent suppliers and farmers to deliver grocery products, including eggs, yogurt and bakery items to fruit and vegetables.
The business was founded in 2018 by Simon Mellin, who has previously worked with grocery brands such as HelloFresh. It currently makes 350,000 deliveries a week and employs 650 staff.
Modern Milkman has since experienced rapid growth, opening offices in Manchester, London and Lille, France.
In June 2021 the company closed a funding round led by global venture capital and private equity firm Insight Partners. Existing investors ETF Partners and serial investor Simon Murphy also participated in the round.
Mr Mellin, who serves as Modern Milkman's chief executive, said: "As a business proud of our Northern roots we’re thrilled to have secured the support of Praetura Ventures for the next phase of our journey.
"We’re excited by the opportunity to collaborate and learn from them and their impressive portfolio of tech businesses as we continue on our objective to achieve the scale and consumer loyalty we need to realise our vision to reset our throwaway society."
David Foreman, managing director of Praetura Ventures, added: "We are far from alone in our admiration of Modern Milkman, which has grown at a highly impressive pace and is now eyeing global expansion.
"As well as the company’s unique and innovative approach to the grocery sector, what attracted us are its highly authentic sustainability pledges and plans to significantly curb plastic use.
"The business and its founder Simon represent a new generation of Northern businesses, that are transcending sectors and putting the region at the forefront of UK innovation."
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