Foxtrot Market, a Chicago, IL-based corner store and café redefining convenience for the modern consumer, raised $42m in Series B growth funding.
The round was led by David Barber’s Almanac Insights and Monogram Capital Partners with participation from David Chang, Founder of Momofuku, Nicolas Jammet, Co-founder and Chief Concept Officer of sweetgreen, Walter Robb, former CEO of Whole Foods, Imaginary Ventures, Wittington Ventures, Fifth Wall, Lerer Hippeau, Revolution’s Rise of the Rest Seed Fund, M3 Ventures, The University of Chicago, Collaborative Fund, Wasson Enterprise, Bluestein Ventures, and Barshop Ventures.
The company intends to use the funds to expand its line of private label packaged goods and gift offerings, to continue the investment into nationwide shipping which launched in January, to add as many as nine stores in Chicago and Dallas and expand into new markets including Washington, D.C.
Led by CEO and Co-founder Mike LaVitola, COO Sumi Ghosh, SVP, Delivery Scott Holloway, and VP, Strategy Caroline Barry, Foxtrot provides spaces that offer all the aspects of neighborhood cafés, which can be turned to the Foxtrot app for 60-minute delivery of a city’s best goods – from local beers and fine wines to chef-prepared meals, curated gifts and everyday essentials.
In addition to grocery staples, the company stores offer a full-service café, sommelier-curated wine shop, and gift bundles for every occasion via on-demand delivery and in its tech-enabled brick and mortar stores. Select gift bundles are also currently available in Foxtrot’s Ship Shop, which will continue to add offerings as it expands its nationwide shipping capabilities.
FinSMEs
22/02/2021