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Instacart delivers $4.2 billion valuation

Instacart CEO Apoorva Mehta
Instacart CEO Apoorva Mehta. Photo by Steve Jennings/Getty Images.

Instacart on Monday announced that it has raised $200 million in Series E funding at a $4.2 billion post-money valuation.

Why it matters: Amazon's purchase of Whole Foods seems to have accelerated Instacart's momentum, as rival grocers rush to offer tech-enabled delivery.