Good Eggs Raises $8.5 Million
Good Eggs is a farm-to-fridge grocery delivery startup that has raised $8.5 million in funding from Sequoia Capital. Bryan Schreier, a partner at Sequoia Capital, will be joining the Good Eggs board of directors. Other investors that participated in this round include Harrison Metal, Baseline Ventures, Kapor Capital, Collaborative Fund, and several angel investors including Max Ventilla.
Good Eggs will be using funding to expand their sustainable food model into more cities. Good Eggs currently has 80 employees and works with 350 local food vendors. Based in San Francisco, Good Eggs will be expanding soon into the Bay Area, Brooklyn, Los Angeles, and New Orleans.
Good Eggs has warehouses where vendors can drop off inventory on a daily basis. The vendors know how much inventory to drop off per day so Good Eggs does not have to hold the inventory.
The prices at Good Eggs is around 10% less than Whole Foods and is primarily focused on urban areas. The groceries can also be delivered to a home for a fee or consumers can meet a Good Eggs truck at specific locations. The company’s vans are parked at companies like Google and Facebook around the Silicon Valley area.
Good Eggs co-founder Rob Spiro previously co-founded the Aardvark social search startup company Ventilla. Aardvark was acquired by Google in 2010. Google shut down Aardvark one year later. Spiro left Google before Aardvark was shut down to work on sustainable food because he worked on a family farm early on.
[Source: AllThingsD]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry