Venture capital and private equity firms Andreessen Horowitz, Sequoia Capital, D1 Capital Partners, Fidelity Management & Research Company, and T. Rowe Price Associates led the $265m funding round in Instacart, the online grocery platform in North America. The round increases the company's valuation to $39bn. "This past year ushered in a new normal, changing the way people shop for groceries and goods. While grocery is the world's largest retail category with annual spend of $1.3trn in North America alone, it's still in the early stages of its digital transformation. As online grocery penetration increases over the coming years, we'll continue to invest in our people, products and partners to support all of the communities we serve," Nick Giovanni, Instacart Chief Financial Officer.