{"id":384153,"date":"2020-11-18T10:03:16","date_gmt":"2020-11-18T15:03:16","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=384153"},"modified":"2020-11-18T10:03:16","modified_gmt":"2020-11-18T15:03:16","slug":"online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\/","title":{"rendered":"Online Grocer Farmstead Raises $7.9M To Accelerate National Expansion, Shift the Grocery E-Commerce Paradigm"},"content":{"rendered":"<h2>\nOversubscribed Series A round led by Aidenlair Capital with participation from Y Combinator, Gelt VC, Duro, Maple VC, Heron Rock, 19 York, Red Dog Capital and others<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">SAN FRANCISCO, Nov.  18, 2020  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KuPYEx_uv3wg3oFlKBtq_Jad8-x1gnSzLFS3HgfUwXfAisBoj4BqFLXkO0IBpXQZdlaYH2AN5MalDfnegsbxvw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Farmstead<\/u><\/a>, the first online grocer to offer fresh, high-quality groceries, delivered for free,\u00a0at better prices than local supermarkets, announced today that it has raised a $7.9M Series A round of funding to accelerate its national expansion and recruiting. This brings Farmstead\u2019s total funding to date to $14.5M.<\/p>\n<p>Farmstead\u2019s business has grown swiftly in 2020, driven partially by shoppers\u2019 preference for delivery over going to the store during the pandemic. Now, with stay-at-home orders lifting, Farmstead has found that the vast majority of customers are continuing to use delivery. 75 percent of Farmstead customers are on its free weekly recurring program, ensuring that they have a regular delivery slot each week, plus access to discounts on staples.<\/p>\n<p>In October, Farmstead <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=S-sSA4Xo7EijAs8C2lXyqqpOgw8qFe7yz4yxHdN152lXbFrrYbK2qQsVseLpk3QCW-m_F8IGUqeqY-J_j3-r2ZxjPfBGi55OPyYLC-Jqrqi8J5ayPYiumpRB8kDOz40dRwnvO_ZbGIV8XkfTmia90fjbYkjQoa_mu1RN0tc0fzGC6udIRe8ZSpz_GiNnM9Dbzg4WbyOH0uSYkffwXzNirvdc8ssrcvGkp8Ttd25oMI5QT1NvmHauzVSvWSjHAZtvLmxOPjOr4u3h9Pi-kRHnPaEhfMz9l9ZRAMfS7ebAyIyZo5L9pA9MiUWLOqKXFxaLuHDgX3fCXqShbtScLn8xIg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>announced<\/u><\/a> that it will be opening its first expansion market: Charlotte, NC. On Nov. 17, Farmstead <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=S-sSA4Xo7EijAs8C2lXyqkN4ERPqTuZpl_p6udbFF2LrifvZEzqv68St_y-r35-m58D-qvG35GM97q98DWrU0t7Yw6tj25uPLGsZGIkPrSvAFyc5UieD4D5nz_nUnEaB6Hf1sUmyw6EdTtAX7kdnt3ch1jaNChLkfYyITKQ3MvH0uZ7M0P696KJNnWy-l1jVfGX9yko7rqbnoLwBmlrJcvG0HdKi6q4kjsSJVMcIGBAI4CDgKUSbagH67lmZMcm68mD2CrciZYO2iZcYo1m3rLWWLBSunNwFC6eXl-4S_8LBBxFyv5cuJiszKO8eGswl\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>announced<\/u><\/a> its second expansion market: Raleigh-Durham, NC. Additionally, in September, Farmstead <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ffKCX-wwtBY2c4p4oSO58pTgkK-8Fb4n5q7RBMN67JKv-aOSIgy-IzkXvCHKqgYQBTtPacOZfr8_Pc2H6vcsZd0m4eRtTzYbDqjyY9i0ETz3oASIOY5Fphy0Kl8p1AJeoiI_K6r6Hjf2veXMNfkENdwV9j-aL11_Ry_izIYOIDFlkL6fumm-CYoBdM7RjZhjhwIBl0gF_inFm8WH3exZD5IGgqfzm7DVsL5dH1huBZcBoGWCaGdlGegZAi35IdknKpwymZYvhgsiI6K2cVdclHgS45CrQetvnfPK_HJIbmxWcjU7FIZwXB4zDB4fEZbXNCgjHzKhqE5jMjwXPQZQCw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>launched<\/u><\/a><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Rm56-ZSbCUeBKNSiR7qtjQbx-zLyyfAQFZDwBjPbdrl4rn14WYHxHvqe5ZZdzqkP9m0f03dvniosg6tFys0cwjA3M87N7M9MY4fa_boZS-4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Grocery OS<\/u><\/a>, to help traditional grocers take delivery in-house, and go head-to-head against Amazon\u2019s national expansion. A Top 3 U.S. grocer has already implemented Grocery OS, and Farmstead is in talks with many others, including several of the nation\u2019s Top 10 grocers.<\/p>\n<p>Farmstead is known for leveraging proprietary AI technology and a dark store model &#8211; delivery-centric warehouses that serve a 50-mile radius, delivering many thousands of orders per day &#8211; to maximize efficiency and reduce costs. As a result, Farmstead offers consumers prices comparable to or lower than most supermarkets, but with free delivery to doorstep. The company is growing quickly, with plans to expand nationwide to a primarily mid-market audience.<\/p>\n<p>Farmstead\u2019s dark grocery store strategy greatly eases entry into new geographies, reduces food waste by 3-4x and helps eliminate food deserts by making fast, inexpensive delivery available to a wider area. Most of all, Farmstead meets customers\u2019 desire for perfect orders with no stockouts, delivered free, with no markups.<\/p>\n<p>\u201cIn order to fix grocery delivery and make it profitable, Farmstead took the bold approach of breaking the traditional model and starting completely from scratch, while opening up <em>Grocery OS<\/em> to other retailers,\u201d said Tim Reynders of Aidenlair Capital. \u201cThere is an inevitable path to growing an impactful and powerful company, and we see that potential with Farmstead \u2013 we\u2019re excited to work with Pradeep, Kevin and team to grow the company nationwide.\u201d<\/p>\n<p>\u201cThe Farmstead team worked hard in 2020 to perfect the dark store model and the underlying proprietary technology that makes Farmstead so incredibly efficient,\u201d said Pradeep Elankumaran, Co-founder and CEO of Farmstead. \u201cWe are laser focused on expanding Farmstead\u2019s national brand, and adding more partnerships with grocery chains, helping them increase their daily delivery capacity while driving long sought-after profitability with each order. This industry has been stagnant for long enough &#8211; customers demand change and we are building the foundation for sustained e-commerce growth in grocery while exceeding their expectations.\u201d<\/p>\n<p>\n        <strong>About Farmstead<\/strong><br \/>\n        <br \/>Farmstead is the first online grocer to offer fresh, high-quality groceries, delivered for free, at better prices than local supermarkets. Using AI technology, Farmstead has reinvented the grocery buying experience and rewired how food moves across the country, to significantly reduce food waste and fulfill its mission of making high quality, locally sourced food accessible to everyone. Visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=8CeLqAzGGxT1RVdVNLKpwqMVRqsaZn_bo8mfUmsWEhSSAOjqyAFJQqvPhuxLGL1Np8X78NJ0Cg_I3X8BNpT1xGVBcBYeWwZDZbrsLAJYF74=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>https:\/\/www.farmsteadapp.com<\/u><\/a> or follow @<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mCPzU9NJWIGP637Eh6UC5i_Q-yX2oB7AD-etvGgn29X9edXdG-BDdvzgl_Mqg7_je36-ApYLeqi4KqEt76x-XuZwmkBsZRMDrVys0Bia50A=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">farmsteadapp<\/a>.<\/p>\n<p>\n        <strong>Media Contact:<\/strong><br \/>\n        <br \/>Michelle Faulkner<br \/>+1 617-510-6998<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=D8fZ3FCbp-BjAhTRcy3qcu3OsJbfPOpHOoBcVY6uS7y0AVrIkv_ObJWAneWMkqPZ8y5EId6ZrYptgDLYWa_0Rw8qns6-FrELDPyGqLB0jjE=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>michelle@big-swing.com<\/u><\/a><\/p>\n<p>A photo accompanying this announcement is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=8CeLqAzGGxT1RVdVNLKpwg6WrTREi8t3iLOFDQTtrNgPCBFDtfOpyK7630xMEICdFovaGL5rrguWRkOx-ZoNLR2zwT77Hqh9cEf58GdWyS88SY78ptND4Jvximea94IuK6MSWrG3HNwT55HKYLxNPTj37zytyVsyLuW7iMZ09FxjDL_quFNONWMkXaudzmIEUsfQ0XquTXuArzC_aJE-jFRiqmg26BHUkY5Awq_wMIkCvb2bcQabCkZIxsvgbaZHo2ZBbl98mCfsh1ry0FLBKA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/eb6038e3-e6b1-45ac-bc44-ebdff5e0f4af<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4Nzg4MCMzODMyMTI3IzIxMjQ4Nzk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/efd22b54-97ac-40b7-ba79-5d35c82eaa2a\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oversubscribed Series A round led by Aidenlair Capital with participation from Y Combinator, Gelt VC, Duro, Maple VC, Heron Rock, 19 York, Red Dog Capital and others SAN FRANCISCO, Nov. 18, 2020 (GLOBE NEWSWIRE) &#8212; Farmstead, the first online grocer to offer fresh, high-quality groceries, delivered for free,\u00a0at better prices than local supermarkets, announced today that it has raised a $7.9M Series A round of funding to accelerate its national expansion and recruiting. This brings Farmstead\u2019s total funding to date to $14.5M. Farmstead\u2019s business has grown swiftly in 2020, driven partially by shoppers\u2019 preference for delivery over going to the store during the pandemic. Now, with stay-at-home orders lifting, Farmstead has found that the vast majority of customers are continuing &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Online Grocer Farmstead Raises $7.9M To Accelerate National Expansion, Shift the Grocery E-Commerce Paradigm&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-384153","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Online Grocer Farmstead Raises $7.9M To Accelerate National Expansion, Shift the Grocery E-Commerce Paradigm - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Online Grocer Farmstead Raises $7.9M To Accelerate National Expansion, Shift the Grocery E-Commerce Paradigm - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Oversubscribed Series A round led by Aidenlair Capital with participation from Y Combinator, Gelt VC, Duro, Maple VC, Heron Rock, 19 York, Red Dog Capital and others SAN FRANCISCO, Nov. 18, 2020 (GLOBE NEWSWIRE) &#8212; Farmstead, the first online grocer to offer fresh, high-quality groceries, delivered for free,\u00a0at better prices than local supermarkets, announced today that it has raised a $7.9M Series A round of funding to accelerate its national expansion and recruiting. This brings Farmstead\u2019s total funding to date to $14.5M. Farmstead\u2019s business has grown swiftly in 2020, driven partially by shoppers\u2019 preference for delivery over going to the store during the pandemic. Now, with stay-at-home orders lifting, Farmstead has found that the vast majority of customers are continuing &hellip; Continue reading &quot;Online Grocer Farmstead Raises $7.9M To Accelerate National Expansion, Shift the Grocery E-Commerce Paradigm&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-18T15:03:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4Nzg4MCMzODMyMTI3IzIxMjQ4Nzk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Online Grocer Farmstead Raises $7.9M To Accelerate National Expansion, Shift the Grocery E-Commerce Paradigm\",\"datePublished\":\"2020-11-18T15:03:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\\\/\"},\"wordCount\":621,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4Nzg4MCMzODMyMTI3IzIxMjQ4Nzk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\\\/\",\"name\":\"Online Grocer Farmstead Raises $7.9M To Accelerate National Expansion, Shift the Grocery E-Commerce Paradigm - 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This brings Farmstead\u2019s total funding to date to $14.5M. Farmstead\u2019s business has grown swiftly in 2020, driven partially by shoppers\u2019 preference for delivery over going to the store during the pandemic. Now, with stay-at-home orders lifting, Farmstead has found that the vast majority of customers are continuing &hellip; Continue reading \"Online Grocer Farmstead Raises $7.9M To Accelerate National Expansion, Shift the Grocery E-Commerce Paradigm\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-18T15:03:16+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4Nzg4MCMzODMyMTI3IzIxMjQ4Nzk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Online Grocer Farmstead Raises $7.9M To Accelerate National Expansion, Shift the Grocery E-Commerce Paradigm","datePublished":"2020-11-18T15:03:16+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\/"},"wordCount":621,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4Nzg4MCMzODMyMTI3IzIxMjQ4Nzk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/online-grocer-farmstead-raises-7-9m-to-accelerate-national-expansion-shift-the-grocery-e-commerce-paradigm\/","name":"Online Grocer Farmstead Raises $7.9M To Accelerate National Expansion, Shift the Grocery E-Commerce Paradigm - 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