FREMONT — Weee!, which operates an ethnic e-grocer in the United States featuring primarily Asian and Hispanic foods, has landed $315 million in Series D financing led by existing investor DST Global. New investors include funds managed by Blackstone, Arena Holdings, and Tiger Global; significantly deepening the company’s capital base.
Weee! has raised over $415 million to date.
The new capital will be used to accelerate the company’s geographic expansion with the most efficient fulfilment technology, build a stronger and more diverse product assortment, recruit exceptional talent, and invest in engaging the broader Asian and Hispanic communities with state-of-the-art personalization features.
Weee! does not require a subscription to shop and next-day delivery is free with a low order minimum.
“Ethnic communities have been overlooked in the online and retail space. We believe the opportunity to provide these fast growing communities access to exciting and affordable groceries is tremendous,” said Larry Liu, founder and CEO of Weee! “We are thrilled to leverage DST Global and our new investors’ strategic view on the future of retail and vast experience building and scaling technology companies to accelerate our mission.”
“Weee! has a unique understanding of how explosive growth can be achieved sustainably in the emerging online grocery space,” said Rahul Mehta, managing partner at DST Global. “The team’s back-to-basics focus on merchandising, everyday low prices, and remarkable social shopping approach are what sets Weee! apart, and we’re excited to deepen our support for their mission.”
Founded in 2015, Weee! Currently serves 14 metro regions in the U.S. and aims to expand to 30 cities across North America by 2024.