Wonder raises $700 million

Wonder, which operates delivery/pickup-only restaurants in 11 locations across New York, New Jersey and Pennsylvania, has raised $700 million from NEA, GV, Accel, Bain Capital Ventures, Forerunner, Alpine, Harmony, Watar Partners, Dragoneer, Jefferies, Red & Blue Ventures, CAZ Investments, Kuvare Insurance and Fubon Ventures.

Marc Lore, Wonder’s founder and CEO who sold his previous startup Jet.com to Walmart for $3.3 billion, is personally investing $100 million in the round.

Founded in 2018, Wonder initially built out a network of food trucks but it later shifted to physical kitchens. The company operates 30 restaurants from a single location, which gives a customer the option to order from multiple restaurants through a single order and delivery.

Last year, Wonder bought meal subscription startup Blue Apron for $103 million.

The company plans to grow from its current base of 11 locations to 35 by the end of 2024 and 90 by the end of 2025.