Wednesday, March 8, 2017

Instacart, Backed By Whole Foods, Finds $400M More

Grocery delivery service Instacart, which is backed by Austin-based Whole Foods, said on Wednesday that it has raised $400M in new funding. The round was led by Seqoia Capital, and also included Wellcome Trust, Y Combinator Continuity, Andreessen Horowitz, FundersClub, Khosla Ventures, Kleiner Perkins Caufield and Byers, Initalized Capital, Thrive Capital, and Valiant Capital. The company said the new funds go to help it expand its services. It's unclear if Whole Foods, which took a stake in Instacart in February of last year, has upped its funding in the grocery deliver startup. Instacart is based in San Francisco.