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Illustration: Sarah Grillo/Axios
Grocery delivery company Instacart announced Thursday that it raised $225 million in new venture capital funding at a $13.7 billion valuation.
Why it matters: Instacart was often an afterthought for those following the gig economy, until the coronavirus pandemic made it a lifeline for many Americans who were unable or unwilling to shop for groceries. It's now valued higher than competitors like Postmates, Grubhub, Lyft and DoorDash.
Go deeper: Instacart claims strike had "no impact" on operations