Misfits Market is a technology company.
Misfits Market has raised $515.0M across 3 funding rounds.
Misfits Market has raised $515.0M in total across 3 funding rounds.
Misfits Market has raised $515.0M in total across 3 funding rounds.
Misfits Market's investors include Accel, Bond, SoftBank Investment Advisers, Kunal Shah, Vaibhav Kapoor, DST Global, Greenoaks Capital, R136 Ventures, Salesforce Ventures, Sequoia Capital China, Square Peg Capital, Afore Capital.
Misfits Market is an online grocery delivery service that rescues "misfit" produce—fruits and vegetables rejected by traditional supermarkets for cosmetic reasons—and delivers them at 25-40% below standard grocery prices, alongside meats, dairy, pantry staples, and other items.[1][2][3] It serves U.S. consumers seeking affordable, fresh organic food while tackling food waste, with a subscription-based model operating nationwide to nearly every ZIP code in 48 states; the company has raised over $525 million, acquired Imperfect Foods in 2022, reached a $2 billion valuation by 2021, and employs around 214-1200 people across facilities.[3][5][7][9]
Founded in 2018 by Abhi Ramesh in Philadelphia, Pennsylvania (with headquarters later in Pennsauken, NJ), Misfits Market emerged from Ramesh's recognition that nearly half of U.S. produce goes uneaten due to aesthetic standards or surpluses.[1][2][7] Ramesh, driven by missions against food waste and inaccessibility, launched as a social enterprise startup using technology to source and deliver this "ugly produce" directly to consumers at steep discounts, quickly gaining traction through partnerships with farmers and scaling via funding from investors like Valor Equity Partners.[1][2][5]
Misfits Market rides the wave of sustainable e-grocery and food tech disruption, capitalizing on rising consumer demand for affordable organics amid inflation and climate awareness, while U.S. food waste—40-50% of produce—creates ripe market inefficiencies.[1][2][5] Its timing aligns with e-commerce grocery growth post-pandemic, tech logistics advancements, and B2B needs for perishable fulfillment, influencing the ecosystem by normalizing "ugly produce" sales, pressuring traditional retailers, and enabling smaller brands via FBM to compete nationally.[3][4] As a "digirati" player in food delivery and subscription boxes, it humanizes supply chains and scales impact, rescuing surplus at volumes that reshape waste reduction norms.[1][6]
Misfits Market's pivot to B2B fulfillment signals maturation beyond DTC grocery, positioning it to dominate perishable logistics amid e-grocery's projected expansion and sustainability mandates.[3][4] Trends like AI-optimized supply chains, further farmer network growth, and product diversification (e.g., more proteins, vegan options) will fuel momentum, potentially elevating its $2B valuation as it eradicates more waste nationwide.[5] Its influence may evolve into a full food system platform, redefining accessibility and efficiency for startups and consumers alike—proving tech can make "misfits" the new standard.
Misfits Market has raised $515.0M across 3 funding rounds. Most recently, it raised $230.0M Series C in September 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2021 | $230.0M Series C | Accel, Bond, SoftBank Investment Advisers, Kunal Shah, Vaibhav Kapoor | |
| Apr 1, 2021 | $200.0M Series C | Accel, Bond, DST Global, Greenoaks Capital, R136 Ventures, Salesforce Ventures, Sequoia Capital China, Square Peg Capital | |
| Jul 1, 2020 | $85.0M Series B | Afore Capital, Derive Ventures, iNovia Capital, Sound Ventures, Torch Capital, Trinity Ventures, Jeff Seibert, LeBron James, Steve Hafner, Troy Carter, Wayne Chang |