Wonder Raises $350 Million at $3.5 Billion Valuation

Wonder is a food delivery startup that provides mobile restaurant delivery services. Wonder’s commissary kitchens source ingredients, while within mobile kitchens, orders are cooked and plated in front of the client’s home. Such a way of cooking meals can solve food delivery problems such as receiving lukewarm and soggy food. Besides, Wonder also delivers food from local restaurants through its service Envoy.

The funding round was led by Bain Capital Ventures. Among other backers were Accel, New Enterprise Associates, General Catalyst, and Forerunner Ventures. The money raised will be used for the chef’s productivity increase by redesigning the restaurant’s kitchen layout, as well as applying software to the identification of the most efficient way of food preparation.

Wonder, the USA, was founded by Marc Lore in 2002. Before Wonder, Marc Lore founded Jet.com, an online retailer that was purchased by Walmart, and Quidsi Inc., an e-commerce company, that was acquired by Amazon.com Inc. Wonder is an operator of a truck-based restaurant network, in which food can be ordered through a mobile app. As of now, Wonder operates in 22 towns in New Jersey, being available for more than 130 000 households. The company plans to expand and makes the service available around the country till 2035. The quarter of Wonder’s revenue is brought by Envoy, a delivery service. Wonder is going to expand into new market segments such as ready-to-heat meal offerings and meal-preparation kits.

Previous Post

SpaceX Raises $1.68 Billion at $125 Billion Valuation

Next Post

AlphaSense Raises $225 Million at $1.7 Billion Valuation

Related Posts