Wonder Raises $950 Million in Foodtech Funding Triumph
Deal News | Jan 03, 2025 | Ag News
The year 2024 saw significant resilience in foodtech startups despite challenges faced by venture capital firms and startups in other sectors. Leading the field, Wonder, an American food delivery startup, completed two Series C rounds for a total of $950 million. Other notable deals include Zepto in India raising over $1.3 billion with its fast-growing 10-minute grocery delivery service. American and European startups continued to innovate in food delivery and nutrition tech, such as Buyers Edge Platform with $425 million focused on restaurant procurement, and Picnic, a Dutch eGrocery delivering food with electric vehicles. Health-oriented platforms also saw investment, like Foodsmart’s $200 million raise to develop personalized nutrition plans. The year's ranking, published by AgFunderNews, highlights a dynamic blending of technology with traditional sectors, underpinning a future-focused approach to food and grocery delivery amidst continued supply chain complexities.
Sectors
- Foodtech
- Venture Capital
- Restaurant and Food Services
Geography
- Global – The deals span across various countries including the United States, India, the Netherlands, and Czech Republic, reflecting a global investment landscape.
- United States – Home to several key players in the article, including Wonder and Foodsmart.
- India – Zepto, a major player from India, secured significant venture funding in the article.
- Europe – Several European companies like Picnic (Netherlands) and Flink Food (Germany) were featured prominently in the investment landscape.
Industry
- Foodtech – The primary industry focus of the article, showcasing innovation in food delivery, eGrocery services, and nutrition platforms.
- Venture Capital – The article discusses venture capital flows into foodtech, highlighting the financial backing supporting these startups.
- Restaurant and Food Services – Reflects the connection between the tech innovations and restaurant management, including procurement and delivery services.
Financials
- $950 million – Total funding raised by Wonder in two Series C rounds in 2024.
- $1.3 billion – Total raised by Zepto in late financing rounds in 2024.
- $425 million – Late-round funding secured by Buyers Edge Platform.
- $388 million – Late financing round raised by Picnic.
- $200 million – Funding raised by Foodsmart in June 2024.
- $175 million – Funding raised by Restaurant365 in May 2024.
- $171 million – Funding raised by Rohlik in June 2024.
- $150 million – Late-round funding secured by Odeko in January.
- $115 million – Series B round raised by Flink Food in September.
- $100 million – Series C round funding by Meati in May 2024.
- $95 million – Series C round raised by ByHeart in May 2024.
- $90 million – Series C funding secured by Starship Technologies in May.
- $90 million – Late deal closed by Perfect Day in January.
- $80 million – Series B funding raised by Dexory in October.
- $61 million – Series B funding raised by Formo in September.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Wonder | Target Company | Company | An American startup specializing in food delivery through truck-based restaurants. |
| Zepto | Target Company | Company | Indian eGrocery platform providing rapid delivery services. |
| Buyers Edge Platform | Target Company | Company | Develops procurement management solutions for the restaurant industry. |
| Picnic | Target Company | Company | Dutch startup offering fresh food delivery with electric vehicles. |
| Foodsmart | Target Company | Company | Digital nutrition platform providing personalized dietary solutions. |
| Rohlik | Target Company | Company | Czech Republic-based eGrocery delivery service offering quick delivery. |
| Odeko | Other Company | Company | Provides supply chain management and mobile ordering solutions for cafes. |
| Flink Food | Target Company | Company | Berlin-based startup offering quick grocery deliveries. |
| Meati | Target Company | Company | Mycelium-based meat alternative producer. |
| ByHeart | Target Company | Company | Baby nutrition company producing FDA-registered infant formulas. |
| Starship Technologies | Target Company | Company | Develops autonomous delivery robots. |
| Perfect Day | Target Company | Company | Produces dairy-free proteins through fermentation. |
| Dexory | Target Company | Company | Provides AI-driven real-time warehouse insights. |
| Formo | Target Company | Company | Develops alternative cheeses using precision fermentation. |