DELANCO, NJ – Misfits Market, an online grocery platform focused on sustainability, affordability and affordability, has closed a $ 225 million Series C-1 cycle. The company plans to use the funds to fuel the nationwide expansion and increase the selection of items available to customers.
It comes after the company closed its Series C funding round in April with plans to expand distribution and eradicate food deserts in the United States by 2025. Over the past four months, the online ghrocer has doubled its selection of grocery items available to customers.
“We have experienced tremendous growth in 2021 and still have a number of grocery categories lined up and ready to be introduced into the Misfits Market ecosystem,” said Abhi Ramesh, CEO and Founder of Misfits Market. “We have laser focused on building our food supply chain and this infusion of capital allows us to roll it out nationwide and continue to deliver on our vision of a better grocery experience. Shoppers have responded and have proven that there is a market and an appetite for online grocery platforms that make quality food accessible and affordable. We are ready to bring Misfits Market to the kitchens of all Americans. ”
Misfits Market brings organic produce, high-quality protein, sustainably sourced pantry staples and other groceries to customers’ doors in 43 states at up to 40% off products. price of traditional grocery stores. Through direct relationships with farmers, producers and suppliers, Misfits Market has saved millions of pounds of food that would otherwise be wasted and expanded access to food for underserved communities, according to the company.
As part of the Series C-1 cycle, Lydia Jett, investor and partner at SoftBank Investment Advisers, will join the board of directors of Misfits Market.
“We believe Misfits Market has a deep understanding of inefficiencies in the food supply chain and is building theirs from the ground up to radically change the way food gets to the consumer,” Ms. Jett said. “I was extremely impressed with the focus and tenacity of Abhi and the Misfits Market team. We are excited to partner with the company as it expands its product offering and fulfills its mission of providing access to high quality, affordable food for all.