Instacart rakes in $150 Million in a new funding

The San Francisco-based grocery delivery startup Instacart Inc. is reported to be raking in more money in a recent funding led by Coatue Management, the transaction which took place on Thursday was first revealed by Axios. The money raised in the new funding is calculated to be $150 million and when added to the $200 million investment raised through Coatue and Glade Brook Capital Partners as reported by Bloomberg in February, it should sum up to $350 million.

The money will go a long way in helping to compete with their rival Amazon.com Inc.

Photo Credit:  Cyrus McCrimmon via Denver Post/Getty Images

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