The venture capital firm was among existing investors that participated in the convenience-store and rapid-delivery company’s Series C, which was led by D1 Capital Partners. (The Logic)
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The venture capital firm was among existing investors that participated in the convenience-store and rapid-delivery company’s Series C, which was led by D1 Capital Partners. (The Logic)
Talking point: The Chicago-based company operates 16 stores in the U.S. that serve as hubs for 30-minute delivery, and offers five-minute pickup, as well as nationwide delivery. It has raised US$160 million so far. The company will use the new funds to open 25 more brick-and-mortar locations this year, and expand in new cities and within existing markets next year. Foxtrot will also triple its engineering team over the next 12 months. It’s one of several firms competing to take over the rapid-delivery space, which has started to expand in Canada with Toronto’s GoodGood and Vancouver’s Tiggy. Wittington, the venture capital extension of the Weston family’s business empire, invests in startups that hint at what the future may hold for Loblaw.
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