Fidelity Management and Research co-led a round that more than doubled the Amazon, Comcast and American Express-backed grocery delivery service's valuation to $39bn.

Instacart, the US-based grocery delivery service that counts e-commerce group Amazon, mass media group Comcast and payment services firm American Express as investors, secured $265m yesterday at a $39bn post-money valuation.

The round was co-led by investment and financial services group Fidelity Management and Research and fellow returning investors Andreessen Horowitz, D1 Capital Partners, Sequoia Capital and T Rowe Price.

Founded in 2012, Instacart operates an online platform where users in the US and Canada can buy groceries and goods…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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