Shopper, an online grocery store, announced a $30M Series C funding round led by GIC. Quartz, Minerva Foods, Oikos, and Floating-Point also participated in the round.
Shopper is an online grocery platform that provides store cupboard essentials alongside fresh produce for delivery. The startup uses a subscription-style model where customers order their first basket of goods, repeated each week or fortnight as the customer chooses.
With this model, Shopper can better manage supplies, delivery costs, and efficiency.
“Since we can anticipate the buys, we can plan the logistics and therefore have better prices. It’s not a subsidized model, our model is indeed cheaper,” said Bruna Vaz, co-founder and COO of Shopper.
The startup also raised a $21M Series B in March this year, and has seen consistent growth despite competing in a very crowded market. Shopper currently operates in 75 cities across Brazil and plans to use the new capital to launch operations in Rio de Janeiro.
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