Choice Market secures new funding to expand, grow leadership team
Choice Market plans to scale its new mini-mart format.
The Denver-based retailer, which combines curated local assortments of better-for-you foods and the newest technology with the footprint of a c-store, has secured a Series A funding round led by Denver Angels, Kimco Realty, Jogan Health and other private investors. To date, Choice Market has raised nearly $10 million across multiple rounds.
“The Choice Market team is proud of our rapid growth this past year powered by our commitment to provide fresh and healthy food to the Colorado community and beyond,” said Mike Fogarty, founder and CEO. “We are thrilled to expand our innovative grocery model and reach even more consumers with high-quality groceries and fresh meals in a convenient manner.”
The new investment will support the retailer as it seeks to expand its network of small format c-stores, including its new AI-powered, fully autonomous and totally cashierless “mini-mart” concept, which it debuted in October, at The University of Colorado Anschutz Medical Campus in Denver. Given its success, Choice said it plans to rapidly scale the format nationally through strategic partnerships with leading hospitals, apartment developers, venues, airports,
EV charging stations and college campuses.
"We believe in the mission of Choice Market and see an abundance of opportunities for their various store formats,” said David Prichard, CEO of Denver Angels, an investment group of 600-plus members committed to finding and investing in the next generation of great Colorado companies.
“The Mini-Mart concept is particularly scaleable and ripe with innovation.”
Founded in 2017, Choice Market currently operates five locations in the Denver area. The company was one of Chain Store Age’s 2023 Breakout Retailer Award honorees for its innovation in brick-and-mortar retailing.
New Hires
Choice Market also announced the onboarding of four new hires, bringing significant leadership experience with roles in grocery and food & beverage. The new hires are:
• Amanda Dentici, COO;
• Merlin Verrier, senior director of culinary operations;
• Dennis Apreza senior director of retail operations; and
• Peter Haslam, controller.
“Amanda, Merlin, Dennis, and Peter are all remarkable leaders who have been responsible for the success of leading operators such as Fairway Markets, Walgreens, The Kitchen Restaurant Group, and Graham Elliot’s Michelin star-rated restaurant,” said Fogarty. “Their deep experience in all aspects of food and beverage and passion for innovation will help take this company to the next level.”