Weee!, an ethnic e-grocer, secured $425 million in Series E funding towards its goal of being the primary source for food at home.
It has been a few years since we dug into what the company was doing, but to bring you up to speed, it was founded in 2015 and offers over 10,000 locally and hard to find Chinese, Japanese, Korean, Vietnamese, Filipino, Indian and Latin.
Weee! adds more than 500 new products per week. The company has partnerships with over 1,000 restaurants to offer authentic food-at- home options for customers.
This new round comes about a year after the company raised $316 million in a Series D round. The company has raised over $800 million to date, nearly doubling its total.
Taking in the new capital was an intentional move to grow the business to the next level. He wants to deepen the supply chain, focus on building relationships with vendors, do more direct import of products to the U.S. and expand into two more ethnicities.
We want to offer the most amazing assortment for the community, and that's our biggest differentiating factor.
The company will advance its warehouse automation and artificial intelligence technology to offer the most relevant product recommendations.
Weee! Currently has about 1,500 employees and will continue to build out a team to scale, including on the go-to-market side, where Liu said the company had not invested heavily before.
The financing was led by SoftBank Vision Fund 2. Lydia Jett, managing partner at SoftBank Investment Advisers, will join the board of directors.
Jett said in a written statement that Weee! is in a prime position to meet the demands of customers.
Product assortment and pricing are important to Liu. He wants to expand into household and beauty items so that Weee! can become more of a mainstream store.
We believe convenience is important, but that doesn't mean you have to get things in 30 minutes.
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