7 Time F1 World Champion Lewis Hamilton aims at pole position in eCommerce with an undisclosed investment in rapid grocery delivery start-up Zapp.
Lewis has invested in multiple ventures, including fashion, and this latest partnership will further boost his business interest.
Hamilton's investment follows the latest investment round by investors such as 468 Capital and Lightspeed, which has reached $300 million. The company says it will be used to further expand on a technology-based supply chain and build out its infrastructure.
Zapp launched at the end of 2020 with the aim of disrupting the delivery part of the eCommerce journey with a rapid delivery time promise of 10 minutes or less.
Their promise of super fast delivery is a bold move to take on the current established delivery services. The new round of investment should make it easier to deliver on that promise.
It is still to be seen if Lewis might play a more significant part than a silent investor or potentially take part in marketing the platform, but the F1 stars name itself will boost its profile with customers and investors.
The covid pandemic certainly inflated demand for fast delivery and ease of use. It is still to be seen if customers stay with the new market participants or return to their previous purchase patterns. Recent statistics tend to back this new way of shopping, with over 70% of global consumers preferring the convenience of an online marketplace.