After raising $125M, Munchery fails to deliver

On-demand food delivery startup Munchery  is ceasing operations effective immediately, the startup announced in an e-mail to customers on Monday.

Founded in 2010, the San Francisco-based business had raised a total of $125 million in venture capital funding, reaching a valuation of $300 million with an $87 million round in 2015, according to PitchBook. Munchery was backed by Greycroft, ACME Ventures (formerly known as Sherpa Capital),  Menlo Ventures, e.Ventures, Cota Capital, M13 and more.

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