Marubeni Ventures helped the online fresh food supplier push its overall funding past the $240m mark as it looks to expand further across the United States.

US-based online food retailer Grubmarket has closed a $90m series D round backed by Marubeni Ventures, the corporate venture capital unit for conglomerate Marubeni.

The round included Ace & Company, The Strand Partners, GGV Capital, Celtic House Venture Partners, Sixty Degree Capital, Reimagined Ventures, Trinity Capital Investment, Madison Bay Capital Partners and funds and accounts managed by BlackRock.

GrubMarket was founded in 2014 and has developed an online platform enabling customers to buy fresh food sourced directly from farmers and other fresh food suppliers. The capital will support its growth as it looks to expand further across its home country.

The company collected $60m of series D funding from Marubeni Ventures, internet company Digital Garage, Reimagined Ventures, Trinity Capital Investment, Celtic House Venture Partners, Sixty Degree Capital, Mojo Partners, GGV Capital, WI Harper Group, CentreGold Capital, Scrum Ventures and funds and accounts managed by BlackRock in October 2020.

Marubeni Ventures had invested an undisclosed amount in the company five months earlier, though that deal could have represented its contribution to the series D round, which reportedly valued Grubmarket at $400m to $500m.

Grubmarket closed a series C1 round co-led by Digital Garage and WI Harper that included diversified conglomerates Fosun and Arancia Industrial as well as Evolv Ventures, a VC firm backed by packaged food producer Kraft Heinz, at an amount indicated by a securities filing to be $28.2m, in May 2019.

The series C1 round also featured CentreGold Capital, GGV Capital, Ace & Company, University Growth Fund, Fusion Fund, Bascom Ventures and undisclosed backers.

In 2018, Grubmarket raised $32m from GGV Capital, Fusion Fund, Bascom Ventures, Great Oaks Venture Capital, Max Ventures, Castor Ventures, Millennium Technology Value Partners, Trinity Capital Investment and Investwide Capital.

Fosun, Arancia Industrial and Evolv Ventures participated in a $20m series B round for the company in 2016. Fosun also led GrubMarket’s $10m series A round in 2015, investing with GGV Capital, Y Combinator, Battery Ventures and AME Cloud Ventures.

GGV Capital, Y Combinator, New Gen Partners and angel investors including Gang Wang had supplied $2.1m for GrubMarket the previous year.