Indianapolis-based tech startup Market Wagon says it has just secured a $5 million investment to expand its online farmers market to more than 50 markets by the end of the year. The platform helps farmers get their products to local consumers.
The company says the funding round was led by Hyde Park Venture Partners, which is located in Chicago.
“Market Wagon’s business bringing regionally farmed foods and goods to meet consumers growing appetite for local fare fits right into our logistics investing experience and our love for food tech,” said Guy Turner, managing partner at Hyde Park Venture Partners. “We are excited to partner with the Market Wagon team and support their vision, and we love being customers too.”
Market Wagon launched in 2017 as a way to allow customers to browse locally grown products on their computer or smartphone.
Users can place an order from multiple local vendors with one single checkout. Orders are delivered each week.
“Our online store contains everything you would expect to find at a physical farmers’ market – local farm-fresh eggs, dairy, meat, produce, baked goods, and more,” said Market Wagon co-founder and Chief Executive Officer Nick Carter. “This business is all about giving consumers more ways and easier access to buy local – and giving farmers and food producers more ways to reach them.”
It now supports 2,000 farmers and artisans across 29 markets in the Midwest, the South and East Coast regions.
The company says it added 50 employees during the pandemic and plans to triple the size of its headquarters in Indianapolis.