Wonder Aims to Double Its Tech-Enabled Food Hall Footprint and Expand Into New Markets with $600 Million in Fresh Capital |

Wonder, the fast-growing food hall and delivery startup founded by serial entrepreneur Marc Lore, has raised $600 million in new funding, pushing the company’s valuation to over $7 billion. The latest round of investment includes backing from existing investors such as New Enterprise Associates, Accel, Google Ventures, and Forerunner, along with new funding from strategic partners including Amex Ventures. The capital infusion will support Wonder’s aggressive national expansion strategy and continued investment in technology, logistics, and customer experience.

Since its inception, Wonder has aimed to redefine the way consumers interact with restaurant food, blending the convenience of delivery with the quality of dine-in meals. Its food halls house up to 30 virtual restaurant concepts under a single roof, with cuisine developed in collaboration with some of the culinary industry’s most recognizable names—including Bobby Flay, José Andrés, Nancy Silverton, and Marcus Samuelsson. Customers can order from multiple menus at once and choose between dine-in, takeout, or delivery. The company promises delivery times of 30 minutes or less, using its own fleet and logistics infrastructure.

Wonder currently operates 46 food hall locations and plans to nearly double that number to more than 90 by the end of the year. The company is opening locations at a rate of approximately one per week, with a focus on building its footprint across the Northeast, including targeted growth in Philadelphia and Washington, D.C. Lore has stated that this expansion is just the beginning and that he envisions Wonder as a category-defining company that can scale nationally.

The company has grown rapidly since its last major funding round in 2024, when it raised $700 million while operating just 11 brick-and-mortar sites. Since then, Wonder has significantly expanded its physical presence and made a series of bold acquisitions to round out its broader platform strategy. Most notably, the company acquired Grubhub for $650 million just four months ago, giving it access to millions of delivery customers and a sophisticated backend delivery operation. This acquisition followed the purchase of Blue Apron, adding a direct-to-consumer meal kit offering that complements Wonder’s restaurant-style options.

Wonder’s ambitions go beyond food fulfillment. In pursuit of becoming what Lore has called a “mealtime super app,” the company has expanded into media and content, including the acquisition of Tastemade—a digital food and lifestyle media company known for producing recipe and cooking videos. This move is intended to create synergy between culinary content and food ordering, enabling Wonder to become a one-stop destination for food inspiration and fulfillment.

Despite its momentum, Wonder enters a space that has proven challenging for restaurant technology and delivery startups in recent years. Several high-profile ventures have either shut down or scaled back significantly. Presto Automation was delisted from Nasdaq, Kitchen United shuttered its operations and sold its IP, and companies like Olo have been rumored to be exploring exit strategies. These examples highlight the operational and financial difficulties in building sustainable business models in food tech.

Nonetheless, Lore has made it clear that he has no intention of selling Wonder. Instead, he envisions taking the company public when the time is right. His long-term commitment is a reflection of both his confidence in Wonder’s model and a belief that the fragmented restaurant and food delivery market is ripe for consolidation and reinvention.

Wonder’s hybrid model—combining centralized production, curated chef partnerships, and vertically integrated logistics—sets it apart from traditional restaurant groups and third-party delivery platforms alike. As the company continues to build out its infrastructure and expand its geographic reach, it may emerge as a blueprint for how future food ecosystems will be designed: multi-concept, data-driven, and built to serve customers seamlessly across channels.

As 2025 progresses, all eyes will be on Wonder to see whether it can maintain the pace of its expansion while refining operational efficiencies and integrating its acquisitions. If successful, the company could not only reshape the restaurant tech landscape but redefine how America eats.