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2015-01-02

US based online grocery ordering venture Instacart raises $210M

Instacart is a grocery delivery service that delivers groceries from local stores.

US based online grocery ordering venture, Instacart Inc has raised $210 million in fresh funding from a group of investors, the company said in a filing with the US SEC, as reported by VC Circle.

The report also stated that Instacart is likely to raise an additional $10 million from this round. The latest funding has valued Instacart at $2 billion.

Before six months, the company raised $400 million led by Andreessen Horowitz, a $4 billion venture capital firm, founded in 2009 by Marc Andreessen and Ben Horowitz. Sequoia Capital, Khosla Ventures and Canaan Partners, besides Box CEO Aaron Levie and Y Combinator president Sam Altman had also participated in this round.

Instacart is founded by Apoorva Mehta, Max Mullen and Brandon Leonardo in July 2012. Instacart is a grocery delivery service that delivers groceries from local stores. It delivers from 9am to midnight every day, depending on local store hours. Its personal shoppers deliver in Atlanta, Austin, Boston, Boulder, Chicago, Denver, Houston, Los Angeles, New York City, Philadelphia, Portland, San Francisco Bay Area, San Jose, Seattle and Washington D.C. areas.

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