Rocket Internet is shifting its attention towards Artificial Intelligence and Fintech startups as a new plan to expand its growth and with freshly amassed 2.6 billion euro.
“We are looking for opportunities in the tech sector… There is no set timeframe,” said the e-commerce investor’s CEO, Oliver Samwer, to Reuters.
German Rocket Internet has investments in HelloFresh and Delivery Hero, two food delivery services that went public recently and also has shares in Home24 and Global Fashion Group.
With this portfolio is a natural move for the e-commerce company to dedicate some of its recent funding in a complementary sector, even more with other of its portfolio companies aiming to have their own IPO.
Such is the case of Jumia, Africa’s Rocket e-commerce unit. Jumia saw a gross merchandise volume increase of 71% to reach 151 million euros, said Samwer. The company is fully funded and ready for an IPO that could further establish the role of Rocket Internet as a giant retail accelerator.
Bold as the announcement is, Rocket’s CEO noted that this doesn’t mean that the company is done with funding. Samwer said to Reuters that the company “may need to raise funds again within the next two years to support its journey.”