Located in New York Marc Lore’s Wonder, a mobile food delivery service, has secured $340 million in investment. Some reliable sources even mentioned that the company is now valued approximately $3.5 billion. Bain Capital Ventures led the investment, which also included Alpine Group, General Catalyst, Accel Partners, Google Ventures, YieldStreet, and others. Wonder has now raised $900 million in equity and debt as a result of this latest round of fundraising.
The firm collaborates with well-known chefs to develop unique menus and offer their cuisine to mobile eateries. Users can then have foods delivered to their homes from these mobile restaurants. Your meal is cooked and plated “only metres away from your home, immediately served as soon as it’s prepared,” according to Wonder’s team.
Lore claimed Wonder is already accessible in 22 communities across New Jersey, serving over 130,000 families. Wonder has established 19 mobile restaurants since the platform’s inception six months ago. Bobby Flay, Nancy Silverton, Michael Symon, and other well-known chefs have cooperated with the company.
The extra financing, according to Lore, will be utilized to continue expanding in New Jersey’s tri-state area, with Bergen County next on the list. Wonder will also open 11 more restaurants, bringing the total number of Wonder locations to 30.
Lore wrote in the blog post, “Our creative innovation, world-class culinary relationships, and skill opens up so much possibilities for fascinating, new opportunities” “Wonder has a real chance to not only totally change the way people consume food, but also to build a sustainable future by providing convenient, inexpensive access to the world’s best food.”
According to a popular news source, Food delivery startup Wonder plans to expand drastically through 2035, despite its existing minimal market penetration. Wonder also plans to expand its network of ready to eat product businesses by adding a range of quick meal prep products across different categories and by making it available through it’s delivery service.
Lore is no stranger to the shipping business; in 2016, he created the e-commerce shopping site Jet.com, which he eventually sold to Walmart for approximately USD $3 billion. Lore managed Walmart’s e-commerce operations in the United States after the acquisition until January 2021.