Back for Seconds — Our Investment in DELLI
One of the greatest privileges of being an early stage investor is getting to build relationships with our founders over many years, as they develop both as founders, and as people. So it’s the rarest privilege to embark on another journey with Simon Beckerman, the founder and creative genius behind Depop (the circular fashion marketplace acquired by Etsy last year), more than 10 years after Balderton led Depop’s seed round in 2011. Joining Simon is co-founder Marie Petrovicka, who was responsible for growth and operations in Depop’s largest markets, and is one of the most-talented operators that we have seen. We are thrilled to be leading a £7m round, investing alongside HV Capital, another of Depop’s earliest backers. The band is truly back together again!
A decade later, Simon’s passion for building communities and predicting consumer trends are as brilliant as ever. But time has also brought more consciousness about personal health, as well as social and environmental issues.
So they have traded Fashion for Food with DELLI. DELLI is a mobile marketplace & social platform that revolves around inspiration and personal connections with the sellers. The app combines the rich profiles and visual content of a social media platform with the capabilities of a modern e-commerce tool. Beyond empowering existing independent food makers, DELLI’s vision is to become the category creator for home-cooks to sell online.
The pandemic was unsurprisingly a huge boon to the cottage food industry. However, a return to normalcy has not seen these trends dissipate, fuelled by hybrid work setups, rising costs leading many to seek extra income, and importantly — significant liberalisation of the legislation regarding home-chefs in the UK and the US. Since working with Simon and Marie on DELLI, we at Balderton have been quite astonished by the huge variety of ‘maker’ archetypes — graduate students, off-hours chefs, freelancer creatives, office 9–5’s, etc. In addition to these, a particular group of makers for whom home-based income is especially attractive is lower-income parents, overwhelmingly women, who cannot afford to go back to low paid jobs due to the high cost of childcare.
DELLI is the first platform that offers these home-sellers support to get their business up and running (including licensing and food safety). Makers can list their products on the DELLI app, create their own brand and content, manage orders and logistics, and collaborate and connect with the DELLI community.
Simon has repeatedly shown himself to be a product visionary with an innate sense of what’s coming next. Even before Depop, Simon and his brother, Daniel, co-founded the contemporary Italian eyewear brand, Retrosuperfuture, favoured by celebrities like Kanye, Bella Hadid, and Rihanna alike. If we used to express ourselves through fashion, Simon sees food as our newest form of self-expression, particular for Gen Z’s. And so, ‘We Are What We Wear’ becomes ‘We Are What We Eat’. Using the DELLI app feels like walking the stalls of the city’s coolest farmers market, where inspiration, authenticity, and personality abound.
Since beta-launching in East London this spring, DELLI has been quietly growing a buzzing community of more than 200 makers around the city.
We are so happy to be working with Simon and Marie again, and for the exciting times and tasty treats ahead!
