GrubMarket has completed a $50 million Series H financing round, reaching a valuation of $4.5 billion, with its sights set on the global food supply chain worth trillions of dollars.

February 2, 2026  — GrubMarket, an AI technology and digital platform company in the U.S. food supply chain field, announced today that it has completed a $50 million Series H financing round. This financing round was participated in by Future Food Fund, Portfolia Funds, Liberty Street Funds, RD Heritage Group, Flume Ventures, MY Securities, and other undisclosed investors. This round of financing is a significant valuation increase round, with the company's pre - investment valuation reaching $4.5 billion, which marks the capital market's high recognition of GrubMarket's business model and technological innovation capabilities.

 GrubMarket is one of the largest private food technology and B2B e - commerce companies in the United States. It is committed to systematically restructuring the traditional food supply chain through artificial intelligence, software systems, and e - commerce infrastructure, serving farms, wholesalers, distributors, and retail terminals. The company is redefining the operation mode of this trillion - dollar market in a technology - driven way.

Accelerated business development with successful M&A integration and continuous AI product implementation

In the past year, GrubMarket has demonstrated its efficient strategic execution and technological innovation speed, achieving milestone breakthroughs in both M&A integration and AI product implementation.

In terms of strategic M&A, in June 2025, the company completed its largest - scale acquisition since its establishment by acquiring Coast Citrus, a major U.S. tropical fruit supplier, further consolidating its leading position in the North American high - end agricultural products market. In April of the same year, it completed the acquisition of Delta Fresh Produce, a large agricultural product distributor in Arizona, marking the improvement of its strategic layout in the southwestern United States. In addition, GrubMarket also acquired Procurant, a SaaS e - commerce and trading platform for the fresh food industry, covering 14 countries and more than 850 customers, with an annual transaction volume of approximately $5.5 billion (GMV), building a solid industry barrier.

In terms of AI technological innovation, GrubMarket has continuously promoted the practical application of artificial intelligence in the food supply chain, transforming technological advantages into business growth drivers. In July 2025, it launched the industry's first inventory management AI Agent, realizing the automation and intelligent management of complex inventory processes and significantly improving operational efficiency. In September 2025, it released a report analyzing the AI Agent, which can automatically generate AI - driven business analysis reports according to customized cycles, providing strong data support for enterprise decision - making.

Supported by industrial capital to jointly build a new global food supply chain ecosystem

In previous rounds of financing, GrubMarket has received support from many well - known global institutions, including BlackRock, Tiger Global, Red Pill Co., Ltd., and Y Combinator, laying a solid capital foundation for the company's long - term development. This round of financing has also attracted investment institutions with the most in - depth industrial insights globally.

 Trish Costello, founder and CEO of Portfolia Funds, said:

Portfolia has been investing in Mike Xu and the GrubMarket team through multiple funds for a long time. Mike is an outstanding entrepreneur with both strategic vision and execution ability. The continuous business progress of the team further validates our judgment on his leadership and GrubMarket's ability to reshape the food supply chain.

Portfolia Funds is a multi - fund venture capital management institution headquartered in the United States, focusing on enterprises that use technology to improve the operational efficiency of traditional industries for a long time. Its investment focuses cover enterprise services, fintech, and sustainable industries, emphasizing sustainable business models, scalability, and the execution ability of management teams. Portfolia has invested in GrubMarket in multiple rounds since its early stage and has accompanied the company throughout its continuous M&A integration, AI technology implementation, and large - scale expansion.

Hiro Hasegawa, investment partner of Future Food Fund, said:

As the investment department of a company operating a large - scale fresh food e - commerce platform in Japan, we are well aware of the difficulty of building a sustainable food supply chain system under large - scale conditions. GrubMarket's execution ability in M&A integration, profitability, and technology implementation makes it an important investment layout for us in the U.S. food supply chain field.

 Future Food Fund is a professional investment institution focusing on the food, agriculture, and supply chain fields. Relying on its profound industrial background and international resource network, it mainly invests in food e - commerce, agricultural technology, and supply chain digital platforms. The institution has long been concerned about core aspects such as inventory management, procurement efficiency, and cross - regional circulation, and has an in - depth understanding of the underlying operating logic of the food supply chain. Its investment philosophy is highly consistent with GrubMarket's strategic path of reshaping the food supply chain through AI and software infrastructure.

Strong self - financing ability, financing to accelerate long - term strategic layout

Mike Xu, founder and CEO of GrubMarket, said that the company has achieved significant growth in the past 12 months and has continued to maintain a stable financial performance.

"GrubMarket has established a sustainable and self - financing business model. This round of financing is not due to capital needs, but to introduce long - term and strategic capital in the context of the continuous improvement of the company's scale, AI technology capabilities, and industry influence, so that the company's valuation matches the current development stage. This round of financing will further accelerate the R & D of AI software, expand global e - commerce business, and continue to increase investment in talent, technology, financial systems, and M&A."

 Continuous global business expansion, covering more than 70 countries

Currently, GrubMarket's business has covered all 50 states in the United States and has established a business layout in countries such as Canada, Argentina, Chile, Colombia, Mexico, Egypt, India, South Africa, and Spain. The company is currently operating in more than 70 countries around the world and will continue to expand into regions such as North America, South America, Europe, and Africa in the future to build a truly global food supply chain network.

Sustainable development becomes an important part of the company's long - term strategy

Since 2023, GrubMarket has continuously promoted the "Sustainable California" project, which is committed to protecting the agricultural ecological environment in California, empowering farmers, and revitalizing the state's fragile agricultural system. So far, the project has supported the planting of hundreds of thousands of trees in multiple regions of California and has assisted farmers in promoting organic certification and digital transformation, practicing the concept of technology for good with practical actions.

In 2025, the key measures of Sustainable California included: cooperating with environmental protection organizations to plant more than 100,000 trees in the Sierra Nevada region severely damaged by the 2013 Rim Fire; providing free access to GrubMarket's AI software tools to California farmers throughout the year; and cooperating with CCOF to continuously fund 10 socially disadvantaged farmers to complete the organic transformation and certification process.

Continuous improvement of industry recognition

In recent years, GrubMarket has been recognized by the industry and authoritative institutions on multiple occasions. It was included in the CNBC Disruptor 50 list for three consecutive years (2023 - 2025); it was named the Inventory Management Solution Provider of the Year in 2025; and it won the Food Industry Sustainable Development Award in the same year.

Industry insiders believe that in the highly fragmented and traditional U.S. food supply chain industry, GrubMarket is gradually building a digital infrastructure platform with long - term barriers through the dual - wheel drive model of "strategic M&A + AI technology", and its future development potential is worth looking forward to.