Total amount raised
$862.8 Millions
Latest funding date
Location
Weee! has successfully raised significant funding through multiple rounds, with the latest being a Series E round. The company has attracted 14 investors, including notable names like SoftBank Vision Fund and iFly.vc.
As an online grocery delivery platform, Weee! specializes in Hispanic and Asian food specialty products and everyday staples. Keep reading to explore the intricacies of Weee!'s fundraising journey and the investors backing this innovative platform.
What Is Weee!?
Weee! is an online grocery delivery platform founded in June 2015 by Larry Liu. The company is headquartered in Fremont, California, and operates in the e-commerce, grocery, and retail industries.
Specializing in Hispanic and Asian food specialty products, Weee! offers a wide range of items including fresh produce, meat, seafood, snacks, and ready-to-eat meals. The company employs between 501 and 1000 people and continues to expand its offerings and services across various cities in the USA.
How Much Funding Has Weee! Raised?
- Seed Round
- Amount Raised: $1.4M
- Date: July 2015
- Lead Investors: Amino Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial offerings.
- Series A
- Amount Raised: $7.6M
- Date: May 2016
- Lead Investors: Goodwater Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and scale operations.
- Series A
- Amount Raised: $10.8M
- Date: March 2019
- Lead Investors: Goodwater Capital, iFly.vc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and improve customer experience.
- Series B
- Amount Raised: $18M
- Date: December 2019
- Lead Investors: VMG Partners, XVC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and increase inventory.
- Series B
- Amount Raised: $50M
- Date: March 2020
- Lead Investors: VMG Partners, XVC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve logistics.
- Series C
- Amount Raised: $35M
- Date: August 2020
- Lead Investors: DST Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance supply chain and expand product lines.
- Series D
- Amount Raised: $315M
- Date: March 2021
- Lead Investors: DST Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enter new markets.
- Series E
- Amount Raised: $425M
- Date: February 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand platform offerings and improve AI innovations.
Total Amount Raised: $862.8M. Current Valuation: Not publicly disclosed.
Key Investors
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund established by SoftBank Group. It focuses on investing in technology companies globally.
- Investment Focus Areas: Technology, AI, Robotics, Telecommunications, E-commerce
- Notable Investments: Uber, WeWork, ByteDance
- DST Global
- Details: DST Global is a venture capital firm founded by Yuri Milner. It is known for investing in late-stage internet companies.
- Investment Focus Areas: Internet, E-commerce, Social Media, Fintech
- Notable Investments: Facebook, Alibaba, Spotify
- VMG Partners
- Details: VMG Partners is a private equity firm that focuses on investing in consumer product companies. It aims to help brands grow and scale.
- Investment Focus Areas: Consumer Products, Food & Beverage, Health & Wellness, Beauty
- Notable Investments: KIND Snacks, Quest Nutrition, Daily Harvest
- XVC
- Details: XVC is a venture capital firm that invests in early-stage technology companies. It aims to support innovative startups in their growth journey.
- Investment Focus Areas: Technology, E-commerce, Fintech, AI
- Notable Investments: Not publicly disclosed
- Goodwater Capital
- Details: Goodwater Capital is a venture capital firm that focuses on consumer technology companies. It aims to support entrepreneurs in building transformative consumer products.
- Investment Focus Areas: Consumer Technology, E-commerce, Fintech, Health & Wellness
- Notable Investments: Musical.ly, Kakao, Stash
What's Next for Weee!?
Weee! stands at the cusp of significant growth opportunities, driven by the expanding demand for ethnic groceries and food delivery services in the U.S. The company plans to scale its offerings across new geographies and ethnicities, adding over 500 new products weekly and partnering with more than 1,000 restaurants. This positions Weee! to tap into the $360 billion ethnic grocery market, making it the largest and fastest-growing ethnic e-grocer in North America.
Future fundraising appears promising, with strong investor interest from entities like SoftBank Vision Fund 2 and Greyhound Capital. This could lead to additional funding rounds, enabling Weee! to further enhance its AI innovations and warehouse automation. However, the company faces challenges such as intense competition, managing operations across diverse regions, and maintaining product quality. Successfully navigating these hurdles will be crucial for sustaining its growth trajectory.
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