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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

Trump set to appear at Pennsylvania GOP hearing on voter fraud claims

President Trumpat the White House on Tuesday. Photo: Chip Somodevilla/Getty Images

President Trump is due to join his personal lawyer Rudy Giuliani in Gettysburg, Pennsylvania, Wednesday at a Republican-led state Senate Majority Policy Committee hearing to discuss alleged election irregularities.

Why it matters: This would be his first trip outside of the DMV since Election Day and comes shortly after GSA ascertained the results, formally signing off on a transition to President-elect Biden.

Scoop: Trump tells confidants he plans to pardon Michael Flynn

Photo: Alex Wroblewski/Getty Images

President Trump has told confidants he plans to pardon his former national security adviser Michael Flynn, who pleaded guilty in December 2017 to lying to the FBI about his Russian contacts, two sources with direct knowledge of the discussions tell Axios.

Behind the scenes: Sources with direct knowledge of the discussions said Flynn will be part of a series of pardons that Trump issues between now and when he leaves office.

Erica Pandey, author of @Work
10 hours ago - World

Remote work shakes up geopolitics

Illustration: Eniola Odetunde/Axios

The global adoption of remote work may leave the rising powers in the East behind.

The big picture: Despite India's and China's economic might, these countries have far fewer remote jobs than the U.S. or Europe. That's affecting the emerging economies' resilience amid the pandemic.