Instacart Valuation Jumps to $17.7 Billion in Grocery Investment
- Covid-19 precautions drove demand for grocery delivery
- $200 million infusion will help build ad, partner services
Photographer: Gabby Jones/Bloomberg
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Investors pushed the value of Instacart Inc. to $17.7 billion in a new private funding round, more than doubling the valuation of the grocery-delivery startup since the start of the coronavirus pandemic.
Valiant Peregrine Fund and Daniel Sundheim’s D1 Capital Partners, two existing investors in Instacart, led the round, the grocery startup said Thursday. Instacart plans to use the $200 million investment to develop its website, ad business and services for retail stores.