Last year, Wonder announced that it was pivoting away from its mobile kitchen model to a “fast-fine” brick-and-mortar one in both suburban and urban neighborhoods in NYC and New Jersey. It also began selling its meals in the B2B foodservice channel to convention centers, sports arenas, workplaces, and other venues looking to leverage its meal kits designed for one-touch cooking that utilize impingement ovens and sous vides. This led to a $100mm strategic investment from Nestlé last November, which mostly covered the cost of Wonder’s acquisition of Blue Apron’s 267k active customers last fall.

After raising $775mm in equity and $125mm in debt over the last 5.5 years (excluding Nestlé), Wonder is now doubling down on its new course as it attempts to raise its largest round to date at a step up from its high-flying $3.5bn valuation in May ‘22 just as the post-pandemic bull run was halted. Founder & CEO Marc Lore has also personally invested $225mm, although it is unclear if this was historical or part of the new round.