SPRINGDALE, Ark. —
EasyBins, a company solving the problem of grocery logistics for North America’s suburban markets, has received a $400,000 matching investment from the Arkansas Venture Capital Development Fund (AVCDF) Capital Investment Trust (AVCIT). The Fund and Trust are administered by the Arkansas Development Finance Authority (ADFA) to drive the company’s growth and expansion into new markets. AVCDF focuses on technology companies in Arkansas that offer high-growth investment opportunities in the state, such as EasyBins’ innovative, technology-driven retail logistics model that is currently reshaping the tech industry. groceries and online delivery. AVCDF’s investment follows EasyBins’ late-stage $2 million seed round, now oversubscribed.
EasyBins’ online marketplace solves today’s challenges faced by suburban shoppers by providing access to in-stock groceries at multiple local stores in their area. Their order is consolidated at a nearby micro-distribution center, then a single driver delivers their final order to a temperature-controlled bin at times of the day that are underserved and more convenient for most households.
“It is an honor to have the opportunity to innovate and build new business models here, in the heart of the country where our dearest customers live and work every day,” said CEO and Founder of EasyBins , James Farmer. “Although Arkansas is our home, EasyBins is growing rapidly thanks to the identification of an untapped market need and the support of visionary investors and institutions like the ADFA. Local investments in companies like the ours are testament to the unique strengths of Arkansas’ entrepreneurial ecosystem.
Founded in 2017 with the goal of solving the problem of grocery logistics for suburban markets, EasyBins has a proven track record of identifying and meeting customers’ unique grocery needs that are not still not satisfied by existing competitors. The company is on track to triple the number of markets it serves over the next six months.
“EasyBins’ aggressive, high-growth model shows how true industry innovation is born right here in Arkansas and then spreads to the rest of the country,” said Mark Conine, ADFA President and Administrator of AVCIT. “Their story, what they have accomplished so far and where they are headed tomorrow is a great example of how the entrepreneurial ecosystem drives economic growth in its natural state.”
AVCDF’s investment and the company’s continued growth will enable EasyBins to expand its geographic footprint, invest in technology, and create more high-paying technology and automation-focused jobs in the industry. ‘Arkansas.
EasyBins is a grocery logistics startup that seamlessly connects grocery shoppers to local stores, allowing them to have their groceries delivered by a driver to a temperature-controlled bin. EasyBins uses existing infrastructure and technology to accelerate the adoption of online grocery shopping and delivery in suburban markets. The company was founded by James Farmer in late 2016 to solve the problem of grocery logistics for suburban markets. The company currently operates in northwest Arkansas and is testing its model in several other North American cities. You can find out more about EasyBins at www.easybins.com