- Wonder, a mobile restaurant delivery service, secured $350 million in Series B funding led by Bain Capital Ventures, Wonder Founder, CEO and Chairman Marc Lore, said Tuesday in a LinkedIn post.
- The platform, in which the chiefs cooking curbside meals from mobile vans, is available in 22 cities in New Jersey and serves more than 130,000 homes. The company, which has created 19 mobile restaurants, will use this funding to scale in the tri-state area.
- The company, that Lore presented six months agohas already raised $900 million in debt and equity and is worth around $3.5 billion, according to the Wall Street Journal.
Overview of the dive:
Although Wonder’s current market reach is limited, the company plans to expand into new areas of the United States by 2035. according to the Wall Street Journal.
Wonder’s police station kitchens source ingredients, but orders are cooked, finished, and plated in mobile kitchens out front. consumers houses. Food is served as soon as it is ready. The company has worked with chefs like Bobby Flay, Nancy Silverton and Daisuke Nakazawa, Lore said in a LinkedIn post in December. Curbside cooking would solve several problems associated with food delivery, including customers receiving lukewarm and soggy food.
The company also delivers food from local restaurants through its Envoy courier service. She plans to deliver ready meals and meal kits in the future.
The next two months could prove difficult for the company, however, given high fuel prices and the continuing labor shortage. These challenges could prevent Wonder from reaching new areas of New Jersey. Some food delivery couriers are starting to turn away from the food delivery business due to rising gas prices. Aggregators like Grubhub, DoorDash and Uber Eats have tried to help drivers bear gas prices with incentives or fuel surcharges, but some of those programs have already ended.
Lore is familiar with delivery, having founded e-commerce site Jet.com, which sold to Walmart. for $3.3 billion in 2016. Following the acquisition, traditions led Walmart’s e-commerce division in the United States until January 2021.