SPUD.ca secures $11 mln to advance Food-X delivery platform
Vancouver-based grocery e-commerce company Sustainable Produce Urban Delivery Inc (SPUD.ca) has raised $11 million in a pre-initial public offering financing. The deal was led by CIC Capital Ventures, an investment arm of French private equity firm CM-CIC Investissement. It was joined by existing investors, including Walter Capital Partners, which backed SPUD.ca last year. The funds raised will be used to advance Food-X Urban Delivery Inc, an online grocery platform that allows retailers to access technology, warehousing, food preparation and delivery services. Food-X plans to open locations across Canada through 2019 and beyond. SPUD.ca and Food-X are led by CEO Peter van Stolk.
13 December 2018•5 mins read
