San Francisco-based Instacart isn’t ready to cede an inch to rival Amazon in the battle to bring groceries to your home.
According to a new report from Bloomberg, Instacart has raised a fresh, whole-range, grass-fed round of $ 200 million in venture capital. The funding comes just a few days after reports that Amazon is testing delivery from the Whole Foods stores it swallowed last year.
The new funding reportedly values Instacart at $ 4.2 billion, and comes less than a year after it raised $ 400 million at a $ 3.4 billion valuation. The company has now raised $ 900 million total.
The founders of Webvan could not be reached for comment.
Of course, while Amazon’s move is limited to its Whole Foods stores (for now), Instacart works with third-party grocery stores, giving it a much wider potential reach (for now). Its major partners include Albertsons and Costco. Also worth noting according to Bloomberg: Whole Foods is also a partner and investor, having backed Instacart before the boys of Seattle came knocking.
In an interview with Bloomberg, Instacart co-founder and CEO Apoorva Mehta, said: “We raised it because we want to win.”