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Gopuff Close To Closing On $1B In Funding, Report Says

Gopuff, the delivery startup, is near to raising $1 billion in a funding round that could value it at $15 billion, Bloomberg writes.

Gopuff was last valued at $8.9 billion after a March funding round.

The funding round includes participation from Blackstone Group, according to an anonymous source, and Fidelity, an existing investor, will also be participating.

Gopuff’s services have it delivering many products including things like ice cream to cleaning products, and it recently rolled out a formalized experimental food truck program called Gopuff Kitchen. That program, according to the Bloomberg report, delivers hot food to customers, which will boost competition with other companies like Uber and DoorDash.

PYMNTS previously reported on Gopuff’s hot meal experiment, writing that it would utilize mobile kitchens with the company’s micro-fulfillment centers. Customers will be able to have meals delivered alongside the convenience items the company usually specializes in.

Gopuff Kitchen, according to the release, will use a proprietary and completely electric fleet and have no open flame, odors, propane or gas fryer and no combustion in either cooking or climate control.

The feature also comes with a modular design letting the kitchens adapt menus and equipment for individual communities they serve. That program has debuted in numerous cities like Philadelphia, Miami, Nashville, Phoenix and Austin.

Gopuff is backed by companies like SoftBank’s Vision Fund, D1 Capital Partners, Baillie Gifford and Accel.

Gopuff was founded in 2013 by Philadelphia-based college students with the mission of making it easier to get convenience items delivered.

Now the company operates in several cities like Chicago, Boston, Dallas and others.

PYMNTS writes that Gopuff has been eyeing expansion, with its March funding round raising $1.15 billion. That funding went towards new expansions and new product categories.

There will also be new talent hired and other ways to serve customers better.

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