Instacart and GoPuff each announced new fundraisings on Thursday, a sign that food-delivery services are arming themselves with plenty of cash for what looks to be a winter of intense competition.
Instacart, which became the market leader during the pandemic, raised $200 million at a valuation of $17.7 billion. That’s a sizable increase from just four months ago, when Instacart raised $225 million at a valuation of $13.5 billion. Meanwhile, GoPuff, the Philadelphia-based firm known for delivering convenience store items, raised $380 million at a $3.9 billion valuation. It plans to expand the range of items it delivers to include grocery items, over-the-counter medicines and baby and pet products.
