Tech Company Financing Transactions
Addie Funding Round
Disruptive Innovation Fund and Rose Park Advisors joined a $10.1 million Seed funding round for Addie. This venture round was announced on 1/26/2023.
Transaction Overview
Company Name
Announced On
1/26/2023
Transaction Type
Venture Equity
Amount
$10,100,000
Round
Seed
Investors
Disruptive Innovation Fund (Lead Investor)
Proceeds Purpose
McQuade intends to use the funding to build out his team -- those intentional efforts to increase efficiencies help the store to pay store employees $20 per hour in starting wages -- and on technology development.
Company Information
Company Status
Private & Independent
Industry
ECommerce
Mailing Address
911 Boston Providence Hwy,
Norwood, MA 02062
USA
Norwood, MA 02062
USA
Phone
Undisclosed
Website
Email Address
Overview
Addie's is the first-of-its-kind drive-up grocer redefining the grocery experience. By eliminating in-store shopping, Addie's has reimagined every aspect of grocery shopping, from inventory management to store layout, enabling accurate and affordable grocery pick-up in minutes. Consumers purchase groceries through Addie's custom app or website, then choose a pick-up window. Backed by Clay Christensen's Rose Park Advisors, Addie's plans to expand across the U.S. The first concept store is now open in Norwood, Massachusetts.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chairman
James McQuade
Chief Technical Officer
Jeremiah Strauss
Browse more venture capital transactions:
Prev: 1/26/2023: GeoComply Solutions venture capital transaction
Next: 1/27/2023: People Science venture capital transaction
Share this article
About Database of VC Transactions
We do our best to report on every notable VC transaction. VC investment data records reported here are sourced from company press releases and news coverage. The data is sourced from VentureDeal.com, an affiliated venture.
Additional Resources for Entrepreneurs