US-based bulk grocery delivery service Boxed Wholesale may secure around $80m from e-commerce company Alibaba, China Money Network reported today.
Founded in 2013, Boxed Wholesale enables consumers to purchase groceries at a discount through a dedicated smartphone app by selling produce in bulk. The company operates its own warehouse rather than partnering other retailers for stock.
Alibaba is reportedly looking to invest as part of a wider strategy to increase its foothold outside China.
In January 2015, Boxed received $25m in a series B round co-led by GGV Capital and Digital Sky Technologies. Founders Fund, AME Cloud Ventures, Vaizra Investments, First Round Capital, Greycroft Partners and Signia Venture Partners also took part in that round.
Boxed also raised $6.5m in series A funding in May 2014 from Greycroft, First Round, Signia, Eniac Ventures, Social Starts, Box Group and angel investors.
Eniac, Social Starts, 15 Angels and private investor David Ko provided $1.1m in seed funding in 2013.