Grocery Delivery Startup Instacart Raises $265M Series I

Instacart, the grocery delivery platform, has raised $265 million in Series I funding at a $39 billion valuation. The round was led by Valiant Peregrine Fund and D1 Capital Partners. Based in San Francisco, Instacart has seen explosive growth during the pandemic and plans to use the funds to enhance its technology platform and expand partnerships with retailers nationwide.