USA – Cheetah, a San Francisco-based female-led online food and grocery delivery startup, has raised US$36 million in a series B Funding round to support expansion of the company’s contactless pickup and delivery service.
The financing round was led by Eclipse Ventures with participation from ICONIQ Capital, Hanaco Ventures, and Floodgate Fund and brings the company’s total funding to US$66 million since it was founded in 2015.
Cheetah seeks to transform the wholesale food industry by offering transparent pricing to consumers, independent restaurants and small businesses with next-day, contactless delivery for orders placed through its mobile application.
Using its fleet of refrigerated trucks, Cheetah delivers everything from bakery items to beverages, dairy, meat, poultry, seafood, fresh produce, condiments, snacks and cleaning supplies.
Originally launched as a wholesale delivery service for restaurants and small businesses, Cheetah was able to quickly build on its existing technology foundation the week prior to California’s shelter-in-place order.
The company launched a direct-to-consumer service called Cheetah For Me as a unique service gives local residents and small businesses in the Bay Area safe access to essential food and supplies at competitive wholesale prices.
The company explains that consumers simply order through the mobile app and pick up the next day from one of Cheetah’s designated drive-through locations.
“The positive feedback from the community has been overwhelming,” says Na’ama Moran, co-founder and CEO at Cheetah.
Amidst the expanding national shutdown, the food and supplies delivery startup said that the investment will enable it to expand its contactless wholesale grocery delivery service providing residents and small business owners with safe access to groceries and supplies.
“This pandemic has shed light on how technology can be used to quickly adapt core services within the food industry like delivery, fulfillment, and supply chains,” said Lior Susan, founder and Managing Partner at Eclipse.
“Cheetah’s team has demonstrated agility and ingenuity on behalf of their customers, and the resiliency of building a technology-centric operation.
“The company’s vertical integration and technology stack have enabled them to accommodate changing buyer behavior as food supply chains shifted from a focus on commercial operations to consumer homes.”
The CEO of Cheetah Na’aam Moran added that the funding will allow the company to build on its strong foundation and expand essential services directly to the consumer.
“Now, we can provide even more people with the food and supplies they need in a safe and cost-effective way, throughout this crisis and beyond. Our purpose has always been to help independent restaurants thrive. Now we are helping communities thrive,” Moran said.