GrubMarket, which provides software and manages an e-commerce platform that connects farmers and other food producers with buyers, has raised $120 million in equity from new investors, including General Mills Inc.’s venture arm.
301 INC was Lead investor in that round.
GrubMarket Chief Executive Officer Mike Xu noted that new investors include Squarepoint Capital, Portfolia, and Grosvenor Food & AgTech. Tiger Global, Liberty Street Funds, Walleye Capital, Celtic House Asia Partners, and Apeira Capital were among the existing investors. According to Xu, GrubMarket is interested in acquiring traditional, offline wholesalers and distributors.