Instacart Adds $150 Million Two Months After Last Funding
Instacart workers fulfill orders for delivery at a Whole Foods in downtown Los Angeles.
Photographer: Patrick T. Fallon/Bloomberg
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Online grocery delivery operator Instacart Inc. is adding more money to a previous round of venture financing from February, bringing the total to $350 million to fund a battle with Amazon.com Inc.
The San Francisco-based company said on Thursday that it raised $150 million in the round led by Coatue Management, on top of the $200 million investment that came primarily from Coatue and Glade Brook Capital Partners first reported by Bloomberg in February. Instacart said it doesn’t plan to sell any more shares at the current price.