On-demand grocery startup Weee raises $35 million to accelerate expansion

On-demand grocery startup Weee raises $35 million to accelerate expansion

Published: 28-08-2020 15:33:48 | By: Bob Koigi | hits: 4695 | Tags:

Asian e-grocer in the United States, Weee!, has announced $35 million in Series C financing led by DST Global; bringing the total capital raised to over $100 million.

 The new capital will be deployed to further accelerate the company's nationwide expansion and recruitment efforts. Earlier this year, former chief operations officer of Netflix, Tom Dillon, joined the board. In July, Weee! added four new cities to its service regions, including San Diego, Portland, New York, and New Jersey.

Weee! offers the convenience of delivery from their own warehouses on a wide community-curated selection of fresh produce, seafood, meat, and pantry staples; including many that are hard-to-find and exclusive. Products are guaranteed to be delivered at peak freshness and priced lower than or comparable to offline stores. No subscription is required to shop, and next-day delivery is free with a low order minimum. Weee! aims to empower grocery shoppers to make informed choices by providing quality products at consistently low prices.

Larry Liu, founder and CEO, Weee! "We welcome DST Global as investors and look forward to the partnership as we serve more communities nationwide and continue providing convenient and affordable access to groceries. We're excited to further demonstrate our commitment to a higher standard of quality through direct sourcing, merchandising expertise, and industry-leading inventory turnover."

The company currently operates coast-to-coast in eight key regions, having reached profitability and growing 600 per cent year-over-year. Tom Dillon, former chief operations officer of Netflix, joined the board earlier this year and brings vast operational experience in a high growth and direct-to-consumer environment. Weee! anticipates its east coast debut to propel its momentum and rapidly bring the service nationwide.

Rahul Mehta, Managing Partner, DST Global: "We're excited to support Larry and the Weee! team in their vision of delivering significant value to Asian Americans in online grocery across North America. We're impressed with their growth acceleration, exceptional operational efficiency, and customer-first mindset in selection, pricing, and quality."

Online grocery sales in the U.S. grew over 9 per cent to a record-setting $7.2 billion in June 2020, while Asian American purchasing power is projected to reach $1.6 trillion by 2024.

 Weee! aims to serve as the primary source of groceries for Asian Americans and underserved communities across North America.

www.sayweee.com