Retail

As grocery startups bag billions from VCs, consolidation could be next

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A courier for Czech grocery delivery start-up Rohlik.

Rohlik

LONDON — Start-ups promising groceries delivered to your door in a matter of minutes are the hottest craze for venture capitalists right now.

Investors have poured billions of dollars into on-demand grocery delivery firms — some of which are barely a year old — after the coronavirus pandemic accelerated a shift toward online shopping.

Venture-backed grocery companies have already raised over $10 billion so far in 2021, according to data from Pitchbook, eclipsing the $7 billion raised by such firms last year.

In the U.S., Instacart was valued at $39 billion in a March funding round, while Gopuff raised funds at an $8.9 billion…



Source cnbc.com

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