1. News
April 4, 2022

Carrefour and daphni to invest in digital retail start-ups

The Dastore fund will take minority stakes in 'high-potential, emerging start-ups'.

European food retailer Carrefour has partnered with venture capital firm daphni to support digital retail start-ups.

The companies have launched a dedicated venture capital fund, Dastore, which will invest in early-stage businesses.

Dastore will initially invest €80m ($88.03m) to acquire minority stakes in ‘high potential emerging start-ups’ in France and worldwide.

The move is intended to allow Carrefour to remain familiar with industry innovations and emerging technologies while giving start-ups access to Carrefour’s industrial capabilities and global reach.

In addition to financial assistance, Carrefour will offer these businesses operational support, data insights and access to international markets and clients.

A dedicated team comprising experts from both Carrefour and daphni will be established for the fund.

Carrefour e-commerce, data and digital transformation executive director Elodie Perthuisot said: “Launching this venture capital vehicle is a huge milestone in our innovation strategy and illustrates our willingness to further develop the links we have with the start-up ecosystem.

“Investing in start-ups is an opportunity for Carrefour to speed up its own digital transformation, while at the same time helping early-stage companies to grow faster.

“We have therefore opted for an unprecedented investment fund model in the retail space and are delighted to start this adventure alongside seasoned and well-known investors such as daphni.”

The initiative is part of Carrefour’s 2026 digital strategy, which the company announced in November last year.

The strategy aims to convert Carrefour into a digital retail company, as well as surpass Amazon in grocery deliveries and expedite its continuing turnaround.

Earlier this year, Carrefour extended its partnership with European online grocery marketplace Everli to ten cities in France.

The retailer’s hypermarkets and supermarkets have been made available on Everli’s platform in Lille, Lyon, Nice, Toulouse, Bordeaux, Montpellier, Nantes, Grenoble, Rennes and Paris, as well as their surrounding suburbs.