GrubMarket, a “disruptive” startup that sources and delivers local food to consumers and businesses, is the first investment for Kraft Heinz’s $100 million VC fund, Evolv Ventures.
GrubMarket enables consumers and businesses to get farm-fresh ingredients on-demand. They’ve flipped the farm-to-table model on its head, bringing the local farmers market experience online to help feed the growing demand for healthy, sustainable, and fresh ingredients.
Evolv Venture’s investment is part of a series of C1 funding valued at $25 million. GrubMarket plans to use the funding to invest in technology and more acquisitions, two areas where they already have traction. For example, the company has already built a dedicated SaaS platform and has made acquisitions in prominent markets along the west coast.
GrubMarket is a sensible first investment for Evolv Ventures, as the VC fund is focused on supporting companies that will transform the food industry with technology. And in this case, they’ve put their faith in a fast-growing company that is making a splash in not just the B2C market, but the B2B2C market (e.g., schools, restaurants). Some of their customers include Whole Foods, HelloFresh, and, of course, individuals who crave healthy and convenient food options.
Armed with ambitious plans to expand their business, GrubMarket is in good hands with Evolv Ventures. The VC fund provides stable financial backing, has strong ties with the world’s 5th largest food and beverage company, and is led by industry veterans. The investment is beneficial for Kraft Heinz, too. Partnerships with innovative companies like GrubMarket help position the food industry giant to learn about, and even adopt, technology that will transform the future of food.
Read more about how big names are using their resources to accelerate food industry innovation in these articles.
- WeWork Launches Accelerator to Help Tackle the Food Industry’s Biggest Challenges
- PepsiCo Offers Springboard for Innovative Startups Through Nutrition Greenhouse Accelerator Program
- AB InBev Pilots 100+ Accelerator to Propel Towards Sustainable Future
- Chipotle Announces New Accelerator for Ventures That Are Changing the Food Landscape to Make the World Better
- Michigan State University’s New Innovation Center Opens Its Doors to Food Industry Innovators
- Kraft Heinz, Nestlé USA Make Strides in the Innovations Race
