Marc Lore Wonder, food startup, raises $ 350 million with $ 3.5 billion valuation – TechCrunch

Based in New York I wondera mobile restaurant delivery service run by Mark Lohr picked up $ 350 million in Series B funding. The company now costs about $ 3.5 billion, according to The Wall Street Journal. The funding round was led by Bain Capital Ventures and included participation from Accel, Alpine Group, Amex Ventures, Forerunner, General Catalyst, GV, NEA, YieldStreet and others. This latest round of financing brings Wonder’s total debt and equity to $ 900 million.

The startup has partnered with popular chefs to create exclusive menus and present their recipes in mobile restaurants. Consumers can then order meals from these mobile restaurants on their doorstep. According to Wonder’s websiteyour order is prepared and placed “just steps from your door, then served as soon as it is ready.”

IN blog post Regarding the increase, Lor said Wonder is already available in 22 cities in New Jersey and serves more than 130,000 households. Since launching the platform six months ago, Wonder has created 19 mobile restaurants. The company collaborates with several famous chefs, including Bobby Flay, Nancy Silverton, Michael Simon and others.

Lor says the new funding will be used to continue expansion within the three-state district of New Jersey, with Bergen County next on the list. Wonder will also launch 11 more restaurants, bringing the company’s total to 30.

“Our innovative techniques, technologies, world-class culinary partnerships and talent open up so much potential for exciting, new opportunities,” Lore said in a blog post. “Wonder has a real opportunity not only to completely change the way people eat, but also to create a better future with access to the best food in the world in a convenient, affordable and sustainable way.”

IN Wall Street Journal reports that although Wonder currently has limited market reach, the company plans to expand into new areas in the United States by 2035. Wonder also aims to add other ready-to-eat businesses to its network as it plans to add ready-made for heating dishes and food preparation kits to the delivery service.

Lore is not new to the supply market, as he founded the e-commerce site and later sold it to Walmart for $ 3 billion in cash in 2016. After the acquisition, Lore led Walmart’s e-commerce operations in the United States until January 2021.

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