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huge food distribution businessTechCrunch
•Technology
Technology
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GrubMarket announces a new equity round of $50 million on a raised valuation of over $3.5 billion .
Liberty Street Funds , 3Spoke Capital, Pinegrove Capital Partners , ROC Venture Group , Portfolia, Pegasus Tech Ventures and Joseph Stone Capital are investing in this round, a Series G, along with other unnamed backers.
The company’s valuation has been on a swift upswing on the back of its growing balance sheet.
GrubMarket has released “really comprehensive” enterprise AI software for the food supply chain industry.
Xu would not be drawn out on what its next steps might be, and whether that could include a public listing.
The market seems in any case to be open to just as many scaled-up startups staying private and easing into quasi-private-equity arrangements as they are seeing them list in IPOs.
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