Volition previously invested $10 million in Grove by purchasing Series A Convertible Preferred Stock in August of 2023, bringing their total investment in the Company to $25 million.

The investment was led by Larry Cheng, managing partner and co-founder of Volition and a member of Grove's Board of Directors. Cheng most notably led Volition's early investment in online pet supply retailer, Chewy, and also serves on several other boards, including the Board of Directors at GameStop.

Notably, with a portion of this investment and its cash on hand, Grove plans to pay off the remaining $30 million of its outstanding term debt facility.