GrubMarket has raised $60 million in a series D round of funding, reports Tech Crunch. The company offers two platforms: a B2C platform where customers can order produce and other food for delivery, and a B2B service that supplies grocery stores, meal kit companies, and other food tech startups with products that they resell.
Founder and CEO Mike Xu said that he still plans to take the company public, but he did not put an exact timeline on it because the company is experiencing success gaining funding from private markets.
“Having a proven track record of sustained hypergrowth and net income profitability, GrubMarket stands out as an extraordinarily rare Silicon Valley startup in the food technology and ecommerce segment,” said Jay Chen, managing partner of Celtic House Venture Partner, one of GrubMarket’s investors. “Mike’s team has done an incredible job growing the company thoughtfully and sustainably.” Full Story
Related: GrubMarket Acquires Grand Food Inc.; GrubMarket Acquires Hung San Foods.
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