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Instacart Raises Funding Valuing Grocery Startup at $3.4 Billion

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This article was sourced from Bloomberg Technology. Article by Ellen Huet.

Online grocery delivery startup Instacart Inc. has raised a $400 million round of venture funding, said people familiar with the deal.

With the additional capital, the San Francisco-based company’s valuation has risen to $3.4 billion, said the people, who asked not to be identified because the matter isn’t public. The investment was led by Sequoia Capital, which had led an earlier round, the people said.

Instacart allows customers to shop through an app at local grocery stores. Orders are then picked off shelves and delivered by Instacart workers, who are a mix of part-time employees and independent contractors. Before the latest fundraising discussions, Instacart had been valued at $2 billion after a 2015 funding round.

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The BCR Advisory team are a national represented firm with its main office located in Sydney. It is a boutique corporate advisory, recovery and insolvency firm that specialise in the SME market. The team’s reputation is built on their extensive experience within the industry as well as their fresh and innovative approach to problem solving for distressed business owners.Let us know what you thought about this article by leaving a comment below. Alternatively, you can get in touch with the BCR Advisory through our contact page.

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