November 9, 2023
Wonder Group, a food delivery startup, received a $100 million investment from Nestlé, according to CNBC.
The two companies plan to sell high-tech kitchen equipment and food to businesses such as hotels, hospitals, and sports arenas.
Just last month, Wonder agreed to purchase meal-kit company Blue Apron for $103 million.
The deal includes a $100 million investment from Nestlé, along with a strategic partnership, according to sources familiar with the matter who asked not to be named because financial terms of the deal are not public.
Nestlé and Wonder confirmed the deal but declined to reveal transaction details.
The funding could get Wonder a step closer to its ambitions of making it easier, faster, and cheaper for busy families to have high-quality meals at home.
The startup, which was valued at about $3.5 billion when it closed a $350 million funding round in June, was founded in 2018 by serial entrepreneur and former Walmart e-Commerce Chief Marc Lore.
Lore said in an interview with CNBC that working with Nestlé will help the company scale more quickly.
About the Author(s)
You May Also Like