ALEXANDRIA, Va.—Food Rocket has joined the list of ultra-fast delivery companies that have ceased operating.
Food Rocket launched in its hometown of San Francisco in April 2021, and then expanded to Chicago in February 2022 and Charlotte, N.C., last November. In April, it secured $25 million in funding.
In North Carolina, operations were based at two Circle K stores that featured “micro-fulfillment centers measuring between 170 and 500 square feet,” according to Progressive Grocer.
The service aimed to deliver orders within about 10 minutes.
“We believe that the rapid delivery industry has disrupted the retail market and changed consumer behaviors,” noted Vitaly Alexandrov, CEO and founder of San Francisco-based Food Rocket.
“Unfortunately, current economic conditions reshuffled the tech market and presented significant challenges in the venture capital market. The decision to cease operations was incredibly hard, and we put in 100% up until the very last day, trying to stay afloat for our customers and team members,” he said.
Reports Progressive Grocer, “Quick-delivery platforms that have also fallen by the wayside include Buyk, Fridge No More and Zero Grocery, while others have laid off workers and restructured their businesses in the face of a more hybrid approach to buying groceries, coupled with such marketplace headwinds as labor scarcities, high prices, omnichannel competition and an uncertain economy.”