Online Grocery Platform Misfits Market Selling ‘Ugly’ Discounted Produce Raises $200 Million In Series C

Online Grocery Platform Misfits Market Selling ‘Ugly’ Discounted Produce Raises $200 Million In Series C

Misfits Market founder and CEO



Misfits Market

Online grocery platform Misfits Market, founded in 2018 by Under 30 honoree Abhi Ramesh, announced today that it has raised a $200M Series C, thus becoming a unicorn (the company didn't disclose the post-round valuation). The funding round was co-led by Accel and D1 Capital, with participation by existing investors including Valor Equity Partners, Greenoaks Capital, Sound Ventures, and Third Kind Ventures.



Misfits Market is a direct-to-consumer e-commerce platform which buys produce from farmers that couldn't be sold to stores for a bunch of very aesthetic reasons (produce that is too big, too small, shaped a little bit weird or has discolorations) and sells it to subscribers on its platform at a discounted price.

“The reasons why stores won't accept that produce on their shelves are often very irrational,” Ramesh, founder and CEO, says. “Recently we got a call from olive oil manufacturers who said that they had 50,000 cans of olive oil and the only thing that was wrong with it was the label was upside down.”



The way Misfits Market operates is by sending weekly refrigerated trucks to farmers to pick up