American online grocery ordering venture Instacart raises $210M
Instacart Inc., a web- and mobile-based grocery ordering venture with operations in the US, has raised $210 million in fresh funding from a group of unnamed investors, the company said in a filing with the US SEC.
Instacart also expects to raise an additional $10 million from this round.
According to various media reports, the latest funding has valued Instacart at $2 billion.
This funding comes barely six months after it received $400 million led by Andreessen Horowitz. The round had also seen participations from Sequoia Capital, Khosla Ventures and Canaan Partners, besides Box CEO Aaron Levie and Y Combinator president Sam Altman.
Founded in July 2012 by Apoorva Mehta, Max Mullen and Brandon Leonardo, Instacart is a grocery deliver service that sends staff to partner grocery stores to pick up customers' orders and then deliver them at their doorsteps. The firm has listed over 500,000 items from different retailers including Whole Foods, Safeway, Costco and Mariano's.
Headquartered in San Francisco, Instacart currently delivers in the Bay Area, San Jose, New York, Brooklyn, Washington DC, Philly, Boston, Chicago, Austin, Seattle and Los Angeles.