INSUBCONTINENT EXCLUSIVE:
As consumers become more discerning about the food they eat, a wave of startups has emerged that is catering to that demand with convenient
alternatives to the more ubiquitous options that are available today
Jersey, by October this year
The plan, he said, will be to file with the SEC sometime between the end of this year and early 2019, with the IPO taking place in the
second half of 2019.E-commerce, and in particular food-related businesses with perishable items and associated waste, can be tricky when it
comes to margins, and indeed, there have been many casualties in the world of food startups
also be the same reason you may have never heard of GrubMarket
Currently, between 60 and 70 percent of its business is in the B2B space
Xu says that customers number in the thousands and include offices, grocery stores and restaurants across the San Francisco Bay Area, Los
between San Diego and San Francisco, Whole Foods, Blue Apron, Hello Fresh and Chipotle
Working directly with farmers and other producers, GrubMarket has built apps that allow it and its partners to manage the logistics of the
business in an efficient way
The idea will be to bring more AI to the platform over time: for example, to be able to run better modelling to figure out how much fruit
and veg might sell during a given season, and how to price items.GrubMarket also is dabbling in areas that you might not normally associate
wholesale business.This latest round is a mixture of equity and debt and is being led by GGV with other previous investors Fusion Fund
Ventures, Millennium Technology Value Partner, Trinity Capital Investment, Investwide Capital and others
The company is not publicly disclosing its valuation; it has raised around $64 million to date.Many eyes are on Amazon these days, and what
moves it might make next in groceries after acquiring Whole Foods, ramping up its own Pantry offerings, courting restaurants for delivery
and making its own meal kits
that today the total value for the global food and agricultural industry is around $9 trillion (versus $8 trillion in 2017), with only about
one percent of buying done online
grocery delivery called Abel Cole that brings us a box of organic fruit and vegetables (and whatever else I order on top of that) each week
produce directly to buyers (and buyers would have found it hard-going to ever buy directly from these producers)
May they all be around for years to come.
