Chicago-based Foxtrot Market raised the money in a round led by Almanac Insights and Monogram Capital Partners; other funders include Momofuku founder David Chang and former Whole Foods CEO Walter Robb. Wittington—the venture capital firm affiliated with the holding company of the Weston family, of the Loblaw empire—co-led Foxtrot’s US$17-million round announced in February 2020 and participated in this round, with an undisclosed amount. (The Logic)
Talking point: Foxtrot currently operates 10 convenience stores in Chicago and Dallas, and plans to double that by expanding to other markets this year, including Washington, D.C. Wittington called the convenience-store and cafe chain “the new benchmark for omnichannel retail.” Foxtrot provides upscale offerings and private-label goods, and its online shopping platform has a one-hour delivery guarantee. Wittington said the company’s “focus on the convenience retail market is particularly compelling” as the North American corner-store market is valued at hundreds of billions of dollars. Wittington’s investments hint at the future of Canada’s largest grocer, entering into direct partnerships with some of its tech bets, such as Gatik, an autonomous-vehicle startup.