Suomen Korttelikauppa Oy

Blockstore Finland raises €1M to build service capabilities for self-service retail stores of the future

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Helsinki, Finland, 1 July 2021 – Blockstore Finland Ltd, a Helsinki-based self-service retail store concept provider, announced today that it has raised €1 million in Seed B funding to accelerate its technology platform development and scaling of the business internationally. The funding is led by Swedish investment company Nidoco AB.

Finland´s first self-service grocery store with no cashiers opened its doors in Helsinki during the summer of 2020. Photo: Harri Töhönen.
Finland´s first self-service grocery store with no cashiers opened its doors in Helsinki during the summer of 2020. Photo: Harri Töhönen.

Blockstore Finland Ltd (Suomen Korttelikauppa Oy) is a technology company providing solutions for both B2B and B2C operators to meet their different sets of challenges in brick-and-mortar store environments. For retailers, Blockstore Finland offers unmanned retail store services through a uGaaS business model, whereas for consumers Blockstore Finland directly provides neighbourhood self-service grocery stores. These autonomous stores and the enabling platform provide a fast, convenient and seamless shopping experience.

“We are changing the future of retail shopping, especially in the brick-and-mortar space. Online shopping and food delivery services are transforming our buying and selling habits, and thereby changing the demand for brick-and-mortar stores. Their local presence in retail, which has declined in recent decades, can now be brought back in a modern way. This creates massive business opportunities for retailers and supports a straightforward solution to retail transformation desired by all consumers. With our solutions, we and all retailers have a better opportunity to impact positively on the wellbeing of consumers. We are offering unique value to all stakeholders in our ecosystem. Our vision is to become the most efficient brick-and-mortar store concept provider, enabling an exceptional consumer experience locally with a sharp sustainability edge. To succeed, we are building the most efficient and modern technology platform,” says CEO Jussi Nummela.

Blockstore Finland was founded in January 2020, and it currently operates in 6 locations across Helsinki in Finland’s capital region. By bringing intelligent and automatic brick-and-mortar stores to the market, Blockstore Finland meets the demands of today´s sophisticated consumers. With a solution that is easily scalable, growth opportunities globally are enormous. The competitive advantage of Blockstore Finland is its ability to combine latest technology to fit retail processes and desire to enable additional sales channels locally in both urban and rural areas.

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For further information:

Henna Hynynen
Communications & PR
Blockstore Finland Ltd (Suomen Korttelikauppa Oy)
henna.hynynen@korttelikauppa.fi
www.korttelikauppa.fi

Images

Finland´s first self-service grocery store with no cashiers opened its doors in Helsinki during the summer of 2020. Photo: Harri Töhönen.
Finland´s first self-service grocery store with no cashiers opened its doors in Helsinki during the summer of 2020. Photo: Harri Töhönen.
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About Blockstore Finland
Blockstore Finland is a Finnish technology company that makes self-service shopping fast, convenient and seamless. The company offers unmanned retail store services for retailers and self-service grocery stores for consumers locally in their neighbourhoods. Blockstore Finland works closely with a range of partners to create sustainable self-service grocery store solutions and to build state-of-art innovation for retail space to ensure retail industry has new tools to respond to changing customer needs. The Helsinki-based company was founded in 2020 and is led by a team of entrepreneurs with strong business development, digitalization and technology backgrounds.

About Nidoco
Nidoco AB is a Swedish investment company whose strategy is to create long-term value through active ownership of public and private companies. The company is currently a leading shareholder of 4 listed companies with head offices in the Nordic region and they have direct and indirect investments in more than 250 unlisted companies globally. Nidoco is an independent part of the Virala Group. For more information, visit www.nidoco.se

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