Upscale convenience retailer focused on delivery received $42 million in Series B funding
Foxtrot Market, the Chicago-based convenience store and café chain with a focus on 60-minute delivery, announced Monday it has closed a $42 million Series B funding round, led by David Barber’s Almanac Insights and Monogram Capital Partners.
Additional investors include celebrity chef and restaurateur David Chang, Sweetgreen co-founder and chief concept officer Nicolas Jammet and former CEO of Whole Foods Walter Robb.
With this investment, Foxtrot, which currently operates eight stores in Chicago and Dallas, expects to add as many as nine stores in those cities by the end of 2021, and expand into new markets including Washington, D.C. Funds will also be used to expand Foxtrot’s line of private label packaged goods and gift offerings, and to continue the investment into nationwide shipping, which launched in January.
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Chicago-based convenience store startup Foxtrot Market plans to nearly double its number of stores by the end of the year, thanks to $42 million in new funding.
The Bodega Gets A Makeover
To the tune of $42 million.
Author:
To the tune of $42 million.
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In New York, they re bodegas. In Montreal,
dépanneurs. In Berlin,
spätis. One thing they’re definitely not known for is being high-end. But that might not be true for long.
Foxtrot, an upscale reimagining of the convenience store, has nabbed a $42 million Series B from a gaggle of culinary gods – Momofuko founder David Chang, Blue Hill co-owner David Barber and Sweetgreen co-founder Nicolas Jammet.
With this new investment, Foxtrot expects to double its store count by the end of 2021.
Upscale convenience store operator and e-commerce operator Foxtrot Market plans to double its store count by 2022 thanks to new investment that involves a former CEO of Whole Foods.
Foxtrot says it has raised $42 million in a Series B funding round led by David Barber s Almanac Insights and Monogram Capital Partners. Backers also include food and hospitality industry heavy hitters David Chang, founder of Momofuku; Nicolas Jammet, co-founder and chief concept officer of sweetgreen; and Walter Robb, former CEO of Whole Foods.
With this investment, Foxtrot expects to double its store count by the end of 2021.