Farmstead, an AI-powered grocery sourcing and delivery platform, has secured $2 million in venture capital led by Resolute Venture and Social Capital,with additional participation from SV Angel and Y Combinator. This additional capital brings Farmstead’s total funding to $4.8 million to date.
The digital grocer plans to invest the funds in scaling operations, further build out its core AI technology, accelerate hiring and expand its services beyond the Bay Area.
Farmstead’s AI technology uses historical sales and operations data to predict consumer trends. The platform is designed to identify what shoppers want to eat and when, and exactly how much to source from local farms and purveyors, all while delivering in 60 minutes using AI-optimized routes.