Australian grocery chain Woolworths teams up with Tesco, Shoprite to launch VC fund

Australian grocery chain Woolworths teams up with Tesco, Shoprite to launch VC fund

FILE PHOTO: Shoppers walk into a Woolworths supermarket in Sydney, Australia August 22, 2017. REUTERS/Jason Reed

Global supermarket chains including Tesco, Australia’s Woolworths Group and Africa’s biggest grocery retailer Shoprite have teamed up to launch a $125 million venture capital fund to accelerate retail innovation.

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