CHICAGO — Evolv Ventures, the $100 million venture fund backed by the Kraft Heinz Co., has announced an investment in GrubMarket, a platform that sources local food from producers and delivers to businesses and consumers. Financial terms were not disclosed.
GrubMarket is the first investment by Evolv Ventures, which was formed this past October to invest in early-stage technology companies focused on the food industry. A team of investors and entrepreneurs was tapped to drive the effort. Investment areas include food technology, industrial technology, marketing technology and direct-to-consumer models.
“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.”
San Francisco-based GrubMarket was founded on a mission to increase access to fresh, healthy food. Customers are introduced to foods from local farms, fisheries, commercial kitchens and restaurants at more affordable prices than what may be found at other grocers, according to the company.