Friday Fundings: Instacart, Volocopter, Deliverr
Instacart Doubles its Valuation With New Funding
Instacart, the grocery delivery service, doubled its valuation for the second time since the pandemic began. Earlier this week, the company announced that it raised $265 million in a recent financing round, bringing its valuation to $39 billion. In October of 2020 the company was valued at $17.7 billion.
During the pandemic, millions of people have turned to grocery delivery to reduce their risk of catching COVID-19. Analysts believe that some of them will stick to these habits even when more of the population is vaccinated and it is safer to return to in-person stores. Amidst this growth, Instacart is reportedly making plans to go public.
Volocopter Raises Funds to Build Flying Taxis
Volocopter, a German startup building and testing flying vehicles, raised $241 million in a Series D funding round. A number of financial and strategic backers invested in this round, including funds managed by BlackRock, Atlantia SpA, Avala Capital, and Continental AG.
Within the next two years, the company hopes to have working models of the two vehicles it has been developing. In addition to working on its vehicles, Volocopter has also been developing plans for how its robots could be used as taxis in urban areas.
Deliverr Rides the Ecommerce Wave
Deliverr is a logistics and fulfillment startup which helps smaller companies manage their ecommerce operations. Its clients include the specialty pillow company Huggaroo and a number of famous TikTok personalities. Deliverr currently has 52 warehouses across 17 states.
The company recently raised $170 million in a Series D funding round led by Coatue with participation from Brookfield Technology Partners and Activant Capital. Ecommerce sales have climbed by 44% during the pandemic and many expect they will not slow down in the long term even after consumers can return to brick and mortar stores. Investors believe this means that Deliverr is poised for growth.
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