Teleretail is a Swiss start-up producing self-driving technology that can be used in autonomous vehicles of almost any size. They had been funded in part by a grant from the European Space agency, but had not previously raised any seed or venture funding until they partnered with CCEP Ventures.
We were inspired by Teleretail’s vision of a world where residents in rural and suburban markets could have their shopping delivered by small autonomous electric vehicles, cutting emissions and helping local businesses to compete against online giants. We were also impressed that their technology and ideas solve many of the logistical problems faced by CCEP. Robots driven by Teleretail software could even be used to deliver beverages around large hospitality sites like theme parks or hotels.
In 2019, we took a 15% investment stake in TeleRetail, along with a seat on their board. From forming that initial relationship, we were then able to support Teleretail’s growth by providing introductions to high-profile sites such as Alton Towers, where Teleretail ran a successful pilot that led directly to improvements to their software. We also introduced them to the right teams within CCEP to allow them to successfully bid for a commercial contract, and acted as an industrial sponsor for a grant application from the German government.
“We are ... excited to accelerate the development of a world-leading outdoor logistics automation company together with CCEP Ventures and to share our innovations, know-how and technologies.” _ Torsten Scholl, co-founder of TeleRetail