Grocery Delivery Startup Instacart Secures $600 million
A startup that delivers grocery called Instacart has reportedly raised funds amounting to $600 million in its latest funding round. The funds have been basically raised to fight against its rivals as it competes against players like Amazon and valuing the company at $7.6 billion.
The company is based in San-Francisco-based and has been steadily growing in the last few years, helped by partnerships more than 300 retailers including Walmart, Aldi and Kroger.
This latest financing round was led by investment firm D1 Capital Partners which raised Instacart's funding till date to more than $1.6 billion. The company has plans to use these funds to further expand in North America and also invest in marketing and hiring.
The company said it now has about $1.2 billion in cash to spend on ...