GrubMarket, an AI-powered foodtech and e-commerce company, announced a $50 million round of Series H funding. The capital will help GrubMarket advance its AI software and fuel business growth while extending the reach of its e-commerce solutions globally. The company will focus the investment on its workforce, financial infrastructure, tech stack and acquisitions.
Investors including Future Food Fund, Portfolia Funds and Liberty Street Funds contributed to GrubMarket’s Series H, bringing its valuation to $4.5 billion. The new funding comes after a year of growth for GrubMarket, marked by several product releases, such as AI agents for inventory management and reporting, and acquisitions, including those of Coast Citrus and Delta Fresh Produce.
“GrubMarket has experienced an incredible acceleration in growth over the last 12 months and continues to stand out as the largest private food technology company in the United States,” Mike Xu, CEO of GrubMarket, said in a statement. “Since we have a self-sustaining business model, this funding round was not a necessity; rather, we saw it as an opportunity to align our company’s valuation with the new level of scale and strength that we have achieved with our e-commerce business growth, our AI-powered tech innovations and the significant ongoing value we generate for the industry.”
