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Texas startup CitySprout raising $2M in second financing to link consumers with local farmers
CitySprout is aiming to raise $2 million in its second funding round to connect consumers with local food growers in Austin, Texas, according to Business Insider.
Chief Executive Officer (CEO) Will Trienens explained their edge over their rivals: "We want our customers to be able to build relationships with their local food merchants. We're not packaging any of the food in warehouses, like some of our competitors... When our customers buy honey, they actually pick it up from the beekeeper."
The startup functions as a virtual farmers' market where food buyers can order local produce online. They can choose from a list of pickup locations where the farmers will deliver the goods. The site also serves as the main communication line where they can discuss recipes, products, and delivery schedules. The company makes money by taking a 20% fee from the farmers' transactions, the report explained.
Last February, CitySprout opened one pickup location and now adds a thousand new members every week. As of this writing, the firm already has 11,000 members. The Texas startup plans to expand to new markets starting with Boson, Dallas, and Portland, Business Insider reported.