Misfits Market adds wine to online offering

Misfits Market, a US-based e-commerce platform specialising in the delivery of food that would otherwise be wasted, has entered the world of wine, offering curated bundles of three and six bottles.

This follows the launch of dairy products and is part of its drive to become “an affordable one stop online value grocer”.

The company says in a blog post: “Our approach to wine is similar to our grocery sourcing, for which we leverage direct partnerships with farmers and food producers to source organic produce and other high quality groceries at a discount.”

“By searching high and low to find quality wines in places others don’t often look, we’re able to pass along savings directly to the consumer. And, because we’re sourcing directly from suppliers, fewer resources are wasted in getting it to you versus a traditional store.”

There's a lot of delicious produce to get excited about this February. Think: even more winter citrus, first-of-the-season snow and sugar snap peas, and all of our year-round favorites like mushrooms, peppers, and hardy greens. Learn more over on the blog! https://t.co/KvVNZEaiqD
— Misfits Market (@misfitsmarket) February 1, 2022

Funding round

In September of last year, Misfits Market closed a $225 million Series C-1 round led by SoftBank Vision Fund 2 and with participation from Accel.

The investment brought the company’s valuation to $2 billion and the overall funding raised by Misfits Market to $526.5 million. The additional capital is being used to fuel nationwide expansion and increase the selection of items available to customers.

“We have seen tremendous growth in 2021 and still have a number of grocery categories lined up and ready to be introduced to the Misfits Market ecosystem,” said Abhi Ramesh, CEO and Founder, Misfits Market.

“We've been laser focused on building our food value supply chain and this capital infusion enables us to deploy it nationwide and continue realising our vision for a better grocery experience.”

“Shoppers have responded, and proven there is a market and an appetite for online grocery platforms that makes quality food accessible and affordable. We're ready to bring Misfits Market into the kitchens of all Americans."

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