Deborah Gage at the Wall Street Journal reports that New York based Arlon Group, the investment arm of 200-year old Continental Grain whose backers also include Rabobank, has jumped into the venture capital ring to lead a $25.5 million Series B in Door to Door Organics. Investors in the round included Greenmont Capital Partners which lead their $2M Series A back in 2012.
Door to Door’s model is to partner with farmers to bring fresh organic produce directly to their customers. The Journal quoted Arlon Group Managing Principal Michelle Brooks: “We believe online grocery is at an inflection point and is ready for significant growth…We looked at several models and found Door to Door more attractive in its geographic focus and its asset-light model…It’s a more profitable model than others we’ve seen and is capable of going quickly into new markets.”
Door to Door was founded in 1997 by David Gersenson, but moved the company to Colorado in 2005. Since then they’ve made over 1.7 million deliveries to areas which include Denver, Philadelphia, Detroit, New York, and Chicago.
Joining the board are Arlon’s Managing Principal Michelle Brooks and Principal Alexander Bernstein.
AgFunder Co-Investment Fund III is now open for investment. Closing June 15, Spots are limited.
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