Farmstead, a San Francisco, CA-based AI grocery sourcing and delivery service, raised an additional $2m in funding.
The round – which brings total seed funding to $4.8m to date – was led by Resolute Ventures and Social Capital, with participation from SV Angel and Y Combinator.
The company will use the new funds to scale operations of its service, continue building out its core AI technology, accelerate hiring, and expand its service beyond the Bay Area.
Led by CEO and co-founder Pradeep Elankumaran, Farmstead is a new AI-powered digital micro-grocer that curates and delivers fresh, local foods from farm-to-fridge in 60 minutes.
The company’s AI platform knows what customers want to eat, when, and exactly how much to source from local farms and purveyors, delivering to customers in 1 hour using AI-optimized routes.
The self-learning AI models use historical sales and operations data to accurately predict consumer tastes, exactly how much food will be sold each day, and how many perishable products to keep in stock, while maintaining high levels of availability for customers.