Walmart announced on Tuesday that it had acquired a Brooklyn-based logistics startup called Parcel for “smaller than previous acquisitions” in a deal that was closed on Sept. 29.
The company plans to leverage Parcel for last-mile and same-day deliveries to customers in New York City for general merchandise and fresh and frozen groceries from Walmart and Jet.
“Born and bred in New York City, Parcel has developed unique expertise delivering to customers in a distinctly challenging and essential market. This acquisition allows us to continue testing ways to offer fast delivery while lowering our operating costs,” said Nate Faust, svp, Walmart U.S. eCommerce Supply Chain.
Parcel was founded in 2013 by Jesse Kaplan and since its debut, has raised $2 million from investors. It evolved from a customer-facing startup to offering a logistics solution to meal kit and grocery companies for same-day deliveries.