Funding round
Weee! Series B
Weee!, which works in asian grocery retail and delivery in Fremont, raised $50M in a Series B round announced on 30 Mar 2020, led by VMG Partners and XVC. 6 firms took part. It is Weee!'s first venture round on record.
$50M
Amount raised
Not disclosed
Post-money valuation
6
Investors
2 leads
Valuation
What this round says about the price
Weee! did not disclose a valuation in this round. It is Weee!'s first venture round on record, 5 years after it was founded in 2015. It is 6.1% of the $825M Weee! has raised in the venture rounds on record. Weee! raised again 5 months later: a Series C round of $35M in Aug 2020. Its next priced round, a Series D in Mar 2021, valued it at $2.80B.
Weee!'s funding rounds
Weee! has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
VMG Partners and XVC led the round with 4 other firms.
Lead investors
- backs 33 venture-backed companies new investor
- backs 4 venture-backed companies new investor
Also in the round
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- backs 5 venture-backed companies new investor
- Silicon Valley Bank new investor
- Goodwater Capital backs 162 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
8 Series B rounds in Groceries within a year either side disclosed an amount; the median was $39M, and this round was 1.3 times the median. The closest in time, other companies' Series B rounds in Groceries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Groceries | 26 Dec 2019 | $100M | not disclosed | not named |
| Groceries | 19 Sep 2019 | $9.4M | not disclosed | not named |
| Groceries | 27 Aug 2019 | $20M | not disclosed | Iron Pillar |
| Groceries | 8 Jan 2021 | $14M | not disclosed | VII Ventures |
| Rohlik Group Groceries | 3 Feb 2021 | $229M | not disclosed | Partech |
| Groceries | 22 Feb 2021 | $42M | not disclosed | Almanac Insights and Monogram Capital Partners |
| Rohlik Groceries | 1 Mar 2021 | $230M | not disclosed | not named |
| Groceries | 2 Mar 2021 | $36M | not disclosed | Target Global |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Weee! raise in its Series B round?
Weee! raised $50M in its Series B round, announced in Mar 2020.
Who led Weee!'s Series B round?
VMG Partners and XVC led it, with Lightspeed Venture Partners, iFly VC, Silicon Valley Bank and Goodwater Capital.
What was Weee!'s valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Groceries?
8 Series B rounds in Groceries within a year either side disclosed an amount; the median was $39M, and this round was 1.3 times the median.
Did Weee! raise again after this round?
Yes: a Series C round in Aug 2020 of $35M.