Same-day grocery delivery service Instacart announced it raised $8.5 million as part of a Series A round of funding on Wednesday. Instacart raised $2.3 million during its venture round in 2012.
Sequoia Capital led the funding. Interestingly, Sequoia also provided funding for Webvan, the infamous startup whose failure still casts a cloud over the eGrocery industry.
“Having been involved in Webvan, Sequoia is painfully familiar with what it takes to be successful in the grocery delivery business,” Michael Moritz, who will join Instacart’s board following the announcement, said in a statement. “Until we encountered Instacart, we had still been receiving outpatient therapy for our Webvan fiasco but the doctors say – and we agree – that because of advances in technology and a most imaginative approach, there is little danger of a relapse
For more information on the funding, read the full press release here.
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