Alternative Finances

InstaCart Raises $44 Million To Buy More Groceries

One of a rapid proliferation of services looking to cash in on the customers desires to never go to a store again and also receive deliveries on the same day, InstaCart received a $44 million dollar boost in the form of a funding infusion in a round that included Andreessen Horowitz and Sequoia Capital.

The new funding will allow the company to expand its unique brand of grocery delivery to seven new cities by the end of this year, bringing its total to 17.

In as few as three hours, InstaCart can have groceries from a variety of merchants on your doorstep, for $3.99 per order. InstaCart is not alone in this space: eBay, Walmart, Google and Amazon.com’s Fresh have all looked into offering the same day delivery service of grocery goods.

“The difference is that we can maintain a low cost to operate because we don’t control the inventory,” Chief Executive Apoorva Mehta told The Wall Street Journal.

The latest funding brings Instacart’s total to about $55 million since it was founded in 2012.

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