Instacart, the grocery delivery startup that has a partnership of sorts with Whole Foods, is raising $150 million in funding, Axios first reported. This is on top of Instacart’s $200 million raise at a $4.2 billion valuation in February.
Instacart has since confirmed the raise, bringing its total Series E round up to $350 million with a valuation of $4.35 billion.
The additional funding comes shortly after Amazon, owner of Whole Foods, announced free two-hour delivery of natural and organic products from Whole Foods via Prime Now.
“The online grocery market hit a tipping point last year, as more and more consumers demanded grocery delivery. We are excited to accelerate our plans to bring online grocery everywhere and to keep transforming the way people shop,” Instacart COO/CFO Ravi Gupta said in a press release. “We are also excited to welcome Coatue to our team and are grateful for the participation of our other new and existing investors.”