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Photo by Cyrus McCrimmon via Denver Post/Getty Images

Grocery delivery company Instacart is closing on $150 million in new funding from existing investors like Coatue Management, Axios has learned. It's an extension of a Series E round first disclosed in February, which now totals $350 million at a $4.35 billion post-money valuation.

One big development between the investments was that Instacart added Sam's Club to its partner roster. While it's a stand-alone deal, it also could eventually impact what we hear are ongoing negotiations between Instacart and Sam's Club parent company, Walmart.

  • Inking Walmart would be a supermarket sweep for Instacart, which already does deliveries for most other top U.S. grocers, including Kroger, Albertsons, Costco and Publix.
  • Instacart still isn't commenting on details of its contract with Whole Foods, which was signed well before Amazon purchased the grocer. Instacart originally said it had the exclusive right to deliver perishables for Whole Foods, but Amazon recently launched a rival service in select markets.
  • A company spokesman did, however, confirm the new $150 million investment.
  • Instacart has now raised just over $1 billion in total funding since its 2012 formation. In addition to Coatue, backers include Sequoia Capital, Andreessen Horowitz, Glade Brook Capital Partners, Kleiner Perkins, Khosla Ventures and Thrive Capital.

Go deeper

Capitol review panel recommends more police, mobile fencing

Photo: Olivier Douliery/AFP via Getty Images

A panel appointed by Congress to review security measures at the Capitol is recommending several changes, including mobile fencing and a bigger Capitol police force, to safeguard the area after a riotous mob breached the building on Jan 6.

Why it matters: Law enforcement officials have warned there could be new plots to attack the area and target lawmakers, including during a speech President Biden is expected to give to a joint session of Congress.

Financial fallout from the Texas deep freeze

Illustration: Annelise Capossela/Axios

Texas has thawed out after an Arctic freeze last month threw the state into a power crisis. But the financial turmoil from power grid shock is just starting to take shape.

Why it matters: In total, electricity companies are billions of dollars short on the post-storm payments they now owe to the state's grid operator. There's no clear path for how they will pay — something being watched closely across the country as extreme weather events become more common.

U.S. Chamber decides against political ban for Capitol insurrection

A pedestrian passes the U.S. Chamber of Commerce headquarters as it undergoes renovation. Photo: Andrew Harrer/Bloomberg via Getty Images

The U.S. Chamber of Commerce revealed Friday it won't withhold political donations from lawmakers who simply voted against certifying the presidential election results and instead decide on a case-by-case basis.

Why it matters: The Chamber is the marquee entity representing businesses and their interests in Washington. Its memo, obtained exclusively by Axios, could set the tone for businesses debating how to handle their candidate and PAC spending following the Jan. 6 Capitol attack.