Food delivery service Circus has gone public
The Hamburg-based delivery service startup Circus has been listed on the Xetra stock exchange since January 22. This was not a traditional IPO, but a direct listing in which a company does not raise additional capital and only shares that have already been issued can be traded.
Circus uses robots and AI
Nikolas Bullwinkel, the founder and CEO of Circus, describes the move in a LinkedIn post as an important strategic lever to drive the business forward. This would allow employees to participate in long-term value creation with share options and retain their loyalty to the company. The stock market listing should also facilitate the acquisition of new technologies and complementary companies. By their own account, around 40 million euros in growth capital has been invested in Circus to date.
The money is primarily being used to set up so-called ghost kitchens, where food is cooked exclusively for the delivery service. Robots are to be used increasingly in the future. Circus also relies on state-of-the-art technology in other areas. For example, the startup uses artificial intelligence to predict eating habits and optimize the use of available ingredients. In addition to its headquarters in Hamburg, the company operates at three other locations and employs over 100 people from 34 nations.
