GoodGood closes C$6.5m seed financing backed by VCs, angels

Toronto-based GoodGood, an omnichannel marketplace for locally curated beverages, food, snacks and other items, has collected C$6.5 million in seed financing.

Toronto-based GoodGood, an omnichannel marketplace for locally curated beverages, food, snacks and other items, has collected C$6.5 million in seed financing. The round was backed by Golden Ventures, BKCM, Tet Ventures, Maple VC and angel investors, including Shopify’s Farhan Thawar and Digital Main Street’s Chris Rickett.

PRESS RELEASE

TORONTO, Dec. 7, 2021 /CNW/ – GoodGood, a local commerce company that brings together curated items, local hard-to-find favourites, and specialty snacks through instant delivery and retail, announced today that it has raised $6.5 million CAD. The funding comes from Golden Ventures, BKCM, Tet Ventures, Maple VC, and Canadian angel investors including Farhan Thawar, VP of Engineering at Shopify, and Chris Rickett, co-founder of Digital Main Street.

GoodGood is founded by Robert Kim and Kris Linney, with an experienced team from Google, Ritual, and Shopify. The funding will fuel GoodGood’s Toronto growth to make it easier for neighbourhoods to access their favourite makers and artisans. Curious customers can check out some of the items in person at their pop-up café, opening in the King West neighbourhood on December 7, 2021. In early 2022, GoodGood will announce the opening of a series of café and wine bars coming to various Toronto neighbourhoods.

“We want to bring these innovative products that makers have poured their heart and soul into directly to local neighbourhoods that otherwise might never have heard of them,” says Robert Kim, co-founder and CEO of GoodGood. “Torontonians shouldn’t have to resort to Amazon or scouring multiple locations across the city to get great products. Canada, and more locally, Toronto, has a huge amount of entrepreneurs making incredible items, and we can’t wait to showcase them.”

For the first time in Toronto, locally curated coffees, specialty beverages, one-of-a-kind healthy snacks (and some not-so-healthy snacks), plus everyday favourites will be offered via instant delivery (60 minutes or less) to neighbouring customers (note: same/next day delivery available throughout Toronto, with instant delivery range quickly expanding). Additionally, GoodGood products will be available in brick-and-mortar locations, with local cafés and wine bars carrying items specific to their neighbourhood, like kid-friendly snacks in family-centric communities, and imported specialties in pockets across the city. Canadian makers include City Seltzer, Honey’s Ice Cream, Mid-Day Squares, Heartbeat Hot Sauce, Smart Sweets, and 100s more.

“Globally, we’ve seen the concept of localized quick commerce and instant delivery take off,” says Ameet Shah, general partner, Golden Ventures. “Rob and Kris are, without question, the best team to bring this concept to Canada. They have a demonstrated passion for local commerce, and are on a mission to bring a truly curated retail experience to Toronto.”

About GoodGood
GoodGood is creating a better kind of local commerce, helping neighbourhoods discover specialty treats, niche beverages, and your next oh-my-god-I’m-obsessed favourite craft items. Shop in-person at your local café and wine bar, or enjoy super-fast online delivery. At GoodGood, we believe in the good stuff – buying local, supporting the community, fair wages, reconciliation, nice people, voting, equality, and always saying thank you.