GrubMarket raises $50M at $3.5B+ valuation to build AI for the $1 trillion food distribution industry

U.S. President Donald Trump’s wide-ranging tariff hikes are already resulting in growth forecasts being cut amid an uncertain public mood — all of which will inevitably impact the technology sector, too. On Tuesday, however, one food e-commerce startup, GrubMarket, seemed impervious to these macroeconomic concerns: it announced a new equity round of $50 million on a raised valuation of over $3.5 billion — underscoring how some tech businesses are not slowing down their expansion plans despite the high level noise. The funding round — a Series G — includes participation from 3Spoke Capital, Joseph Stone Capital, Liberty Street Funds, Pegasus Tech Ventures, Pinegrove Capital Partners, Portfolia, and ROC Venture Group, along with additional unnamed backers. In a food distribution market estimated to be worth some $1 trillion annually, GrubMarket’s valuation has been on a swift upswing on the back of a growing balance sheet. The U.S. business pitches itself as an online farmers market, c ... Read full article.