Today in restaurant and grocery tech news: One restaurant payment solution startup brought in $100 million in Series A funding, while another priced its initial public offering (IPO) at $40 per share, for a roughly $20 billion valuation. Plus, Henri Capoul, co-founder and CEO of French grocery startup Cajoo, speaks with PYMNTS about how the company’s partnership with grocer Carrefour is key to its success in the on-demand grocery space.
London-based restaurant payment solution startup sunday on Wednesday (Sept. 22) announced that it had generated $100 million in Series A equity funding. Coatue, as well as partners of DST Global and several other investors from the hotel, restaurant, hospitality and technology industries, led the most recent funding round, according to an emailed statement from sunday.
Restaurant technology (ResTech) startup Toast priced its IPO above the range at $40 per share, giving the point-of-sale (POS) platform an estimated valuation of $20 billion, CNBC reported, citing an unnamed source.
Albertsons Companies, the third-largest grocer in the United States, is getting into contextual commerce. In a joint news release with “shopper-tainment” platform Firework, the grocer announced on Wednesday (Sept. 22) that it is launching shoppable videos and livestreams.
Walmart is integrating the grocery shopping experience with its overall eCommerce journey. The company sent out an email to consumers on Tuesday (Sept. 21) announcing its new website, noting that this “redesigned Walmart.com” allows customers to shop multiple fulfillment methods in one order.
Henri Capoul, co-founder and CEO of French grocery startup Cajoo, tells PYMNTS how its partnership with multinational retailer Carrefour is a “game-changer.” The retail giant, which has a presence in 30 countries, recently acquired a minority stake in Cajoo, offering the startup an exclusive industrial partnership to support replenishment and operational logistics in the startup’s dark stores.
Following consumers’ mass turn toward heat-and-eat food options at the start of the pandemic, frozen food brands are now tasked with finding ways to maintain the 2020 bump into the post-quarantine future. Bryan Freeman, CEO of frozen food brand Real Good Foods, speaks with PYMNTS about how testing out new items positions the brand for retail success, enabling it to hold onto its lockdown gains.