GrubMarket, a San Francisco, CA-based AI-powered technology enabler and digital company for the American food supply chain industry, raised $50M in Series H funding led by Future Food Fund, Portfolia Funds, Liberty Street Funds, RD Heritage Group, Flume Ventures, MY Securities, and others.
The company is valued at $4.5 billion.
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The company will use the money to expand its operations and development work.
GrubMarket, an AI-powered food technology and eCommerce company, has seen rapid growth over the past year and is now the largest private food technology company in the U.S. CEO Mike Xu said the funding was not needed to sustain the business, but was used to reflect the company’s increased scale, strength, and continued growth in eCommerce and AI technology.
The Series H funding will accelerate AI development, support business growth, and expand the company’s global eCommerce presence. The company will also invest in talent, infrastructure, technology, and acquisitions while continuing to operate a self-sustaining business.
As the only enterprise AI provider for the U.S. food supply chain and an early leader in B2B food eCommerce, GrubMarket uses AI-driven technology to transform the food supply chain in the U.S. and globally.
The funding follows several significant milestones. In June 2025, GrubMarket completed its largest acquisition by purchasing Coast Citrus, a leading U.S. tropical produce provider. In July 2025, the company launched the industry’s first AI-powered inventory management agent to automate key inventory processes.
In April 2025, GrubMarket acquired Delta Fresh Produce, a major distributor in Arizona. In September 2025, it launched the Reporting AI Agent to automate business analysis on custom schedules. The company also acquired Procurant, a leading SaaS eCommerce and trading platform for fresh produce, which handles $5.5 billion in annual GMV for over 850 customers in 14 countries.
Since 2023, GrubMarket’s Sustainable California initiative has worked to protect the state’s farms, support farmers, and promote a resilient food system. It has encouraged organic farming, reforestation and the use of innovative technologies. In 2025, the initiative planted over 100,000 trees in the Sierra Nevada, provided farmers free access to GrubMarket’s AI software, and supported 10 socially disadvantaged farmers in completing organic certification.
GrubMarket was named to the CNBC Disruptor 50 list for three years in a row (2023–2025, No. 20) and won the 2025 RetailTech “Inventory Management Solution Provider of the Year” and Shelby Report’s “Sustainability in the Food Industry” awards. The company operates in all 50 U.S. states and over 70 countries, with a presence in Argentina, Canada, Chile, Colombia, Egypt, India, Mexico, South Africa, and Spain, and plans to expand further globally.
“Portfolia has proudly supported Mike Xu and the GrubMarket team through multiple funds. Mike is an innovative, strategic, and determined leader, and the team’s continued success confirms our confidence in him and GrubMarket’s mission to transform the food supply chain. We are excited to keep backing their vision,” said Trish Costello, CEO & Founder of Portfolia Funds.”
“As the venture arm of a leading fresh produce platform in Japan, we know how challenging it is to build a large, lasting business. We are impressed by GrubMarket’s strong performance and profitable growth and are excited to support its global expansion,” said Hiro Hasegawa, Venture Partner of Future Food Fund.
About GrubMarket
Founded in 2014 and led by CEO Mike Xu, GrubMarket is an AI-powered technology and digital solutions provider for the U.S. food supply chain. It is a pioneer in B2B food eCommerce and enterprise AI solutions, and is one of the largest private food tech companies in the U.S. and globally.
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