Today in restaurant and grocery news, investors are backing sustainable food solutions by the hundreds of millions and backing grocery delivery by the billions. Plus, Tim Simmons, senior vice president and chief product officer at Sam’s Club, spoke with Karen Webster about the future of grocery technology.
Delivery Startup Jokr Raises $170M in Series A
Global instant grocery and retail delivery startup Jokr raised $170 million in a Series A funding round led by GGV Capital, Balderton Capital and Tiger Global Management, with additional participation from Greycroft, Kaszek, Monashees, Activant Capital, HV Capital and FJ Labs.
Alternative Proteins Take New Shapes Amid Growing VC, Consumer Interest
Long John Silver’s became the first-ever major restaurant chain to get into plant-based seafood substitutes, as food tech companies explore innovative new proteins that go way beyond the veggie burger.
Swiggy to Invest in Instamart After $1.25B Funding Round
Online grocery ordering is here to stay, so says food delivery app Swiggy. The India-based startup company’s hyperlocal grocery service Instamart will receive a sizable boost in funding after Swiggy’s most successful round to date drew in $1.25 billion.
Sam’s Club Touts 90 Pct Re-Use Rate For Its Touchless Checkout and Delivery Tech
Sam’s Club, Walmart’s chain of membership-only warehouse clubs, recently announced that it has launched a Scan & Ship feature at three of its locations. The feature allows shoppers to scan items in stores from their mobile devices to be shipped to their homes within the next several business days. Through this feature, the chain aims to remain at the forefront of the rise in self-service.
Funding Pours in for Food Sustainability Efforts as Consumers Seek Eco-Conscious Options
Venture capitalists are backing businesses that offer sustainable solutions to meet consumers’ food needs. Berlin-based anti-food waste technology platform Choco announced Tuesday (July 20) a $100 million Series B fundraise to support its goal to create a “connected global food system.” Additionally, New York-based fast-casual chain Just Salad also announced a new investment on Tuesday (July 20), raising funds of an undisclosed amount from circular economy-focused investment firm Closed Loop Partners.
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