Instacart Raises Funding Valuing Grocery Startup at $3.4 Billion

Online grocery delivery startup Instacart Inc. has raised a $400 million round of venture funding, said people familiar with the deal.

With the additional capital, the San Francisco-based company’s valuation has risen to $3.4 billion, said the people, who asked not to be identified because the matter isn’t public. The investment was led by Sequoia Capital, which had led an earlier round, the people said.