Fremont, California-based Weee! has secured $425 million in Series E financing led by SoftBank Vision Fund 2. Greyhound Capital also participated in this round alongside the company’s existing investors.
The capital will be used to expand Weee!’s platform offering across new and existing ethnicities, and scale grocery and food delivery services to new geographies providing more customers with access to food at affordable prices. The company will also advance warehouse automation and AI innovations to further improve its industry-leading customer experience.
“The market for ethnic groceries and food is massively underserved in the U.S., and we believe that Weee! is in a prime position to meet the demands of customers,” said Lydia Jett, managing partner at Softbank Investment Advisors, who will join the company’s board of directors as part of the Series E.
“We’ve seen tremendous growth in 2021, even through the easing of COVID-19 related pressures, as our customers continue to discover affordable access to a wide array of exciting products and food online. We look forward to building on that momentum as we add depth to our investor base with Softbank’s global e-commerce expertise, and welcome them to the board,” said Larry Liu, founder and CEO of Weee! “Their partnership will further enable Weee! to serve customers in the $360+ billion ethnic grocery and food market.”
Weee! continues to expand its Chinese, Japanese, Korean, Vietnamese, Filipino, Indian and Latin offerings for customers, adding more than 500 new products per week and plans to expand to other ethnicities in the future. Weee! also partners with more than 1,000 restaurants to offer authentic food-at-home options for customers.
Weee! is an Asian and Hispanic e-grocer in the U.S. that delivers more than 10,000 locally sourced and hard-to-find goods from around the globe directly to customers. Since its inception, Weee! has received more than $800 million in funding from Arena Holdings, Blackstone, DST Global, Goodwater Capital, Greyhound Capital, iFly.vc, Lightspeed Ventures, SoftBank Vision Fund II, Tiger Global, VMG and XVC.
For more information, visit sayweee.com/en.
