• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Skip to navigation
Close Ad

The Spoon

Daily news and analysis about the food tech revolution

  • Home
  • News
    • Alternative Protein
    • Business of Food
    • Connected Kitchen
    • COVID-19
    • Delivery & Commerce
    • Foodtech
    • Food Waste
    • Future of Drink
    • Future Food
    • Future of Grocery
    • Podcasts
    • Startups
    • Restaurant Tech
    • Robotics, AI & Data
  • Spoon Plus
  • Events
  • Newsletter
  • Connect
    • Send us a Tip
    • Spoon Newsletters
    • Custom Events
    • Slack
    • RSS
  • Jobs
  • Advertise
  • About
  • Consulting
  • Membership
The Spoon
  • Home
  • News
    • Alternative Protein
    • Business of Food
    • Connected Kitchen
    • Foodtech
    • Food Waste
    • Future Food
    • Future of Grocery
    • Restaurant Tech
    • Robotics, AI & Data
  • Spoon Plus Central
  • Newsletter
  • Events
  • Jobs
  • Slack
  • Advertise
  • About
  • Become a Member

Albertsons and Greycroft Form Venture Fund for Grocery Tech Startups

by Chris Albrecht
August 3, 2018August 3, 2018Filed under:
  • Delivery & Commerce
  • Future of Grocery
  • Click to share on Twitter (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to email this to a friend (Opens in new window)

Albertsons and venture capital firm Greycroft announced today the formation of a $50 million fund to invest in emerging companies and technologies in the grocery sector.

By partnering with Greycroft, which has funded companies such as Venmo, The Huffington Post and Plated (which Albertsons acquired last year), Albertsons will gain access to cutting-edge startups with breakthrough technology before they become mainstream.

And technology is a major front in the battle Albertsons is waging against rivals Kroger, Walmart, and Amazon/Whole Foods. Technological innovations up and down the stack from supply-chain management, e-commerce, fulfillment and delivery logistics are changing the way supermarkets provide and consumers shop for food.

This partnership with Greycroft is a much needed move for Albertsons to keep up with its high-tech competition. Amazon is a tech behemoth, with an army of engineers that continually innovates cloud computing, distribution systems and even cashierless stores. Walmart has its Store No. 8 in Silicon Valley to create innovative tech solutions. And Kroger recently upped its investment in UK-based Ocado, which creates robot-driven smart warehouses for faster delivery, as well as formed a partnership with Nuro for self-driving delivery vehicles.

Albertsons inked a deal with Instacart for delivery last year, acquired meal kit company Plated and recently launched a virtual market for its O organics brand. But those are table stakes for any grocery retailer at this point. Starting up a venture fund will ideally give Albertsons a closer look at emerging technologies that are even more bold as well as the ability to execute deals with those startups before other retailers have a chance to.


Related

Get the Spoon in your inbox

Just enter your email and we’ll take care of the rest:

Find us on some of these other platforms:

  • Apple Podcasts
  • Spotify
Tagged:
  • Albertsons
  • Greycroft

Post navigation

Previous Post No Substitute: Three Ways Science is Putting a New (and Improved) Spin on Sugar
Next Post Cannabis-Infused Beer is New Hot Edible (Er, Drinkable) Trend

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Get The Spoon in Your Inbox

Subscribe to Our Podcast!

Subscribe in iTunes or listen on Spotify.

Forget Smart. Samsung’s Latest Fridge Focus is Creating Giant Custom Photo Walls
With Foodtech Bridge, Green Circle Capital Highlights the NYC-Israel Food Tech Connection
Has The Era of Private Label Plant-Based Meat Arrived? Motif Thinks So With Launch of New Line
Change Foods Says Its Alt-Cheese Has A Market Beyond Plant-Based Consumers
Meati Adds Steak Filets to Its Roster of Mycelium Alt-Meats

Footer

  • About
  • Sponsor the Spoon
  • The Spoon Events
  • Spoon Plus

© 2016–2022 The Spoon. All rights reserved.

  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter
  • YouTube
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.