Addie’s, the drive-up grocer redefining the grocery shopping experience, officially opened its first concept store in Norwood, Massachusetts. The store gained $10.1 million in seed funding led by the Disruptive Innovation Fund, the venture capital arm of Clay Christensen’s Rose Park Advisors.
Addie’s is a pick-up only store designed for stocking, storing and bagging groceries without the need for a shopper to enter the store itself.
The pandemic accelerated the need to reinvent how busy consumers get their groceries, but traditional retailers and established grocery delivery apps have struggled to optimize the experience for consumers. Mercatus predicts that online grocery shopping will double to more than $200 billion by 2026.
“We believe that taking better care of busy families should be done in a way that also takes care of our team, our community, and our planet,” said Jim McQuade, co-founder and CEO of Addie’s.
“With our seed funding, we’ve built an end-to-end experience to serve people in and around Norwood in a way that can be replicated in suburbs nationwide. We look forward to quickly expanding, offering busy families across the country drive-up grocery convenience without compromise.”
Addie’s has reimagined grocery shopping, from inventory management to store layout, enabling grocery pick-up in minutes. Consumers purchase groceries through Addie’s app or website and choose a pick-up window that works best for their schedules.
“The 100-year-old grocery business is not immune to disruption,” said Matt Christensen, CEO and managing partner at Rose Park Advisors.
“The traditional business model of in-store shopping makes serving convenience-focused shoppers highly challenging. We see disruptive potential in Addie’s technology-powered drive-up grocery model and are excited to support them as they launch.”
Addie’s first store, a 22,000 square foot retail location, is open in Norwood, Massachusetts. It features a selection of national brands and local favorites, improving its assortment based on customer searches and requests.
