Evolv Ventures, the $100 million venture fund backed by Kraft Heinz, announced GrubMarket as its first investment. GrubMarket is a platform that sources local food directly from producers and delivers it directly to businesses and consumers. Terms of the agreement were not released.
“We’re excited to invest in GrubMarket, a platform that is disrupting the food wholesale market,” said Steve Sanger, General Partner of Evolv Ventures. “GrubMarket plans to grow its presence and product offerings through both geographic and product expansion. Evolv Ventures is pleased to support its innovative founders.”
Since Evolv Ventures announced the formation of the fund in October 2018, the fund has quickly established itself by hiring an experienced team of investors and entrepreneurs and is actively working and investing with leading companies in the space, such as GrubMarket.