Food Rocket Blasts Off After Securing Funding, Grocery Delivery Deal With Circle K Parent
04/26/22, 1:02 PM
Location
Many grocery delivery startups begin small, in one city, building up locations to cater to a certain neighborhood. Food Rocket has taken an unconventional route, striking a funding deal with Alimentation Couche-Tard Inc. that puts its 15-minute grocery delivery service in more than 14,000 Circle K convenience stores and Couche-Tard locations.
Company Info
Location
chicago, illinois, united states
Additional Info
At the time, the company raised $2 million, and Alexandrov said about the perceived competition, “The level of competition in this market in the U.S. is still manageable, which is why we have the opportunity to become leaders in the sphere of fast delivery of basic products and household goods. In all, the company has raised $30 million to date. The company typically carries around 3,500 products, and since launching in California in 2021, it sees 60% of customers order a second time after their first purchase, while the cart size averages $30 per order. We aim to replace brick-and-mortar supermarkets and to change consumers’ current habits in regards to grocery shopping.”Food Rocket uses AI-enabled technologies to manage warehouse stocks, forecast demand and optimize delivery time by predicting the closest store that offers the fastest delivery time and the lowest costs of putting together and delivering the order.On-demand grocery startup Food Rocket launches in the Bay Area, goes up against delivery giants“We understand the business model is not about delivering just groceries,” Alexandrov told TechCrunch. will enable Food Rocket to deliver in 26 countries and territories, including more than 7,000 U.S. locations.