Sequoia Leads $8.5 Million Investment in Same-Day Grocery Delivery Startup Instacart
Instacart, a startup that lets shoppers order same-day grocery delivery from a handful of local stores, has raised a Series A round of $8.5 million, led by Sequoia Capital. Sequoia’s Michael Moritz will join the company’s board. He also served on the board of Web 1.0 delivery service Webvan. Instacart doesn’t have relationships with the stores, which include Trader Joe’s and Costco, but instead simply hires shoppers to travel to the different shops to complete a customer’s order. The cost of delivery depends on how quickly you want your ordered goods; the service is currently limited to the San Francisco Bay Area.