Grocery logistics startup EasyBins raises $2m late stage seed round for expansion
EasyBins, a company solving the grocery logistics problem for suburban markets in North America, announced $2 million late stage seed round funding. With this new funding, EasyBins will expand its geographic footprint and invest in technology and staff.
The company's online marketplace offers shoppers access to groceries in-stock at local stores in their area which can then be delivered together by one driver in a temperature-controlled bin. Over 60% of Easybins orders contain products from more than one store and are fulfilled at underserved times of the day.
James Farmer, CEO and Founder, EasyBins: "Our platform is unique in that it provides an extremely efficient grocery logistics solution to the growing suburban markets where demand for online grocery shopping has skyrocketed but supply has not kept up. We are currently focused on this market because of its size and growth potential. We believe that there is enough room in the market for more than one company to succeed. It's just a matter of which companies can build the right network of drivers, solve customer service problems, and offer the desired level of convenience and variety. What we're most excited about is how this funding will drive us to accelerate our growth. We plan on hiring more drivers, bolstering our technology, and growing quickly in the suburbs of large cities in the Midwest and Southeast."
By building a solution to a specific problem in a rapidly growing, untapped market, EasyBins has been able to grow quickly and capitalize on the unique grocery needs of our customers unmet by existing legacy competitors.
The round was concluded with an investment from Northwest Arkansas fintech startup Teslar and its CEO Joe Ehrhardt "While other companies are focused on building an online grocery delivery option for urban markets, EasyBins is laser-focused on developing solutions that hits the specific purchase behaviors and shopping patterns of suburban consumers," said Joe. "The startup ecosystem in Arkansas is rapidly expanding and we're excited to contribute to the maturing of the system with our investment into easybins."