Let the down rounds begin. This is the Uber Effect, based on a misalignment between the on-demand marketplaces’ needs and those of workers. Munchery is an incidental casualty of the messy re-calibration of on-demand that is underway.
Munchery, an on-demand food delivery startup that has already raised more than $120 million, is reportedly looking to raise an additional $15 million in funding that would force a recapitalization of the company, Bloomberg reports. Munchery reportedly has raised more than $5 million in this new financing.