Weee!, a US-based Asian online grocer, has secured $35 million in Series C financing led by DST Global, bringing its total capital raised to over $100 million.
Founded in 2015, Weee! aims to serve as the primary source of groceries for Asian Americans and underserved communities across North America. Through partnering with local suppliers, the firm offers a wide variety of fresh produce, seafood, meat and pantry staples, many of which it claims are hard to find.
The California-based start-up joins numerous online delivery and meal kit firms such as Gousto, Drizly and Imperfect Foods which have recently experienced accelerated growth during the Covid-19 pandemic.
Weee! says it has experienced 600% growth year-over-year, claiming to be the largest and fastest growing Asian egrocer in the US.
In July, Weee! added four new cities to its service regions as San Diego, Portland, New York, and New Jersey joined the likes of Seattle, Los Angeles and Sacramento.
Today, the company operates coast-to-coast in eight key regions and with the capital, Weee! plans to further accelerate its nationwide expansion and recruitment efforts, anticipating that its east coast debut will propel its momentum.
“We welcome DST Global as investors and look forward to the partnership as we serve more communities nationwide and continue providing convenient and affordable access to groceries,” said Larry Liu, founder and CEO of Weee!.
He added: “We’re excited to further demonstrate our commitment to a higher standard of quality through direct sourcing, merchandising expertise, and industry-leading inventory turnover.”
Rahul Mehta, managing partner at DST Global, said: “We’re excited to support Larry and the Weee! team in their vision of delivering significant value to Asian Americans in online grocery across North America.
“We’re impressed with their growth acceleration, exceptional operational efficiency, and customer-first mindset in selection, pricing, and quality.”
© FoodBev Media Ltd 2024
