The five biggest retail technology news stories of the week
It’s Friday, the week is nearly done, so let’s kick back and reflect on another eventful week for the retail systems space. Here's your briefing on some of the most important and interesting stories from the past five days, including Kroger/Instacart, Co-op, Walmart and Misfits Market.
1. Kroger and Instacart launch Kroger Delivery Now in US
Instacart has partnered with Kroger to launch a Q-commerce offering called Kroger Delivery Now.
By using Kroger’s network of more than 2,700 stores, this focuses on delivery (within 30 minutes) of food and household staples via the likes of Kroger, Ralphs, Fred Meyer, King Soopers, Fry’s, Mariano’s, and Smith’s.
2. wilko invests £3m in autonomous deliveries venture StreetDrone
wilko, a British high street chain which sells homewares and household goods, has announced a £3 million investment in UK autonomous delivery company, StreetDrone.
The investment, which is part of a wider multi-million-pound pre-Series A round, will enable StreetDrone to accelerate the development of its delivery vehicle and systems.
The plan is to bring autonomous deliveries to Wilko consumers by the end of 2023.
3. Misfits Market valued at $2bn following mega funding round
Misfits Market, a US-based e-commerce platform specialising in the delivery of food that would otherwise be wasted, has closed a $225 million Series C-1, bringing its valuation to $2 billion and total equity raised to $526.5 million.
SoftBank Vision Fund 2 led the round with participation from current investor Accel.
As part of the Series C-1 round, Lydia Jett, an investor and Partner at SoftBank Investment Advisers, will join Misfits Market's board of directors.
4. Walmart expands Stateside autonomous delivery efforts
Walmart has worked with Argo AI and Ford to launch an autonomous vehicle delivery service in Austin, Miami and Washington D.C.
This will use Ford self-driving test vehicles equipped with the Argo AI Self-Driving System to deliver Walmart orders to customers.
The service will be available within defined service areas of the three markets and will expand over time, with initial integration testing slated to begin later this year.
5. Amazon and robots key as Co-op boosts e-commerce strategy
Co-op has announced a new partnership with Amazon and a Starship Technologies powered acceleration of robot deliveries.
The moves are part of the UK retailer’s plan to more than double online sales from £70 million to £200 million by the end of the year.
