Farmstead and Circle K team on e-commerce and last mile systems projects
Grocery e-commerce startup Farmstead has struck an agreement with Circle K which will see the pair piloting projects in supply chain, distribution and e-commerce fulfilment and leveraging the former’s Grocery OS software.
In addition, Circle K has made an undisclosed equity investment in Farmstead via its Circle K Venture Fund.
“The convenience landscape is changing dramatically,” says Kevin Lewis, Chief Marketing Officer at Alimentation Couche-Tard, parent company of Circle K.
“At Circle K, we are constantly innovating and exploring new technology that helps us deliver on our mission to make our customers’ lives a little easier every day.”
“When we met the Farmstead team, we saw an opportunity to partner with them, exploring and learning about the new behaviour of our US suburban consumers using e-commerce and last mile systems that lead to actual long-term profitability.”
“We’re also proud to have invested in Farmstead, as part of our effort to cultivate and support retail innovation that transforms the customer experience in our stores and beyond,” Lewis adds.
“Getting in on the ground floor on industry leading new technology is a key element of Circle K’s innovation strategy as we continue to grow.”
Pradeep Elankumaran, Co-founder and CEO at Farmstead, says: “We are in the early innings of significant change in the US food system, which requires new supply and technological alliances.”
“We’re thrilled to be partnering with Circle K on that journey, with its scale and decades of multinational experience in the convenience industry, and to be advancing with Circle K as an investor.”
