Coca-Cola European Partners (CCEP), the world’s largest Coca-Cola bottler, has invested in two innovative start-ups to explore how on-demand delivery and self-driving technologies can transform customer experience:
- Kol, is an innovative on-demand beverage delivery service in Paris, distributing a wide range of drinks direct to customers’ doors in just 30 minutes. CCEP Ventures will take a 25% investment stake in the business, enabling Kol to expand its operations across major cities in France. Kol will also benefit from CCEP’s industry knowledge and experience through access to its European-wide network, helping the company to scale more efficiently and effectively.
- TeleRetail, a self-driving technology company, has developed - with the support of the European Space Agency - an autonomous robot, called ‘Aito’, which uses cutting-edge satellite imagery to deliver products quickly and safely at industrial sites and in urban areas. CCEP Ventures will take a 15% investment stake along with a seat on TeleRetail’s board, to help support the company with its future development ambitions.
Kol and TeleRetail are both using intelligent systems for drinks delivery, adopting digital-first approaches to tackle a set of common logistical challenges faced by CCEP. These partnerships are the first examples of how CCEP Ventures, which launched in February 2019, will bring new ideas and technologies into CCEP, while leading industry-shaping projects that will truly drive change across the FMCG sector.
Nik Jhangiani, Chief Financial Officer of Coca-Cola European Partners, said: “CCEP Ventures finds, funds, and fosters new ideas that help CCEP adapt to new trends, while supporting some of the best start-ups in the market through our extensive experience and network. As the pace of change in consumer behaviour and technology accelerates, we are constantly looking at ways to evolve our business and deliver a great service to our customers.
“We look forward to sharing our experiences with Kol and TeleRetail and learning from each business’s innovation. Through these partnerships we can ensure we are continually adapting our own established model for a digital-first world, and have an innovative new approach to getting our drinks into the hands of our customers faster.”