McWin Capital Partners’ Post

Is Wonder's $700M SAFE a play on optics? I think so. Here's why. About a week ago, the news broke that Marc Lore raised what could be the biggest SAFE round in private capital history for his food delivery app, Wonder.   It's all vanilla until you consider that the amount in question is $700M, and the round happened post-Series B. What gives? SAFEs were created to provide a founder-friendly alternative to convertible notes. SAFE rounds are popular among early-stage companies because they allow them to raise money and investors to write the checks without needing to agree on the startup's current valuation. In some cases, SAFEs are issued to bridge a round, providing the startup with enough operating capital as they work on closing a priced round. This $700M round came after NYPost reported that the Company allegedly offered a convertible at a steep discount of 50% of its valuation on the next priced round last November. Also, in April 2023, Lore told Inc. it had enough cash to last until 2024 after it pivoted to brick and mortar route versus its original high-tech food truck focus. In the current environment where downrounds are rampant, bridge financings like SAFE and Convertible Notes could temporarily protect the Company and the investors from entering the downround pit while the former works towards metrics that could push its valuation higher than the previous one. Given Wonder's operational shift in the last eight months, this looks more like a lifeline than a boost. But lifeline funding does not carry exciting optics. And when you're gunning for an IPO in the near term, market perception matters. So, what is Wonder's valuation? I fancy both sides will cross the bridge when they get there. *********** Chris Harvey also wrote his thoughts on SAFEs here: (https://lnkd.in/gWiEih5f?). It is a good read.

Thank you, Startup World, for the great article covering the acquisition of Houston-based Brothers Produce, a leader in the Texas foodservice industry. This acquisition marks another significant strategic milestone for GrubMarket Inc. with many synergies including: ☑ Expansion in the Southwest: This strategic move underscores GrubMarket's commitment to expanding its presence in Texas and the broader Southwestern U.S. markets. ☑ Enhanced Supply Chain Capabilities: Brothers Produce's vast distribution network, shipping over ten million cases of food annually, significantly enhances GrubMarket's supply chain capabilities with their three major distribution centers. ☑ Operational Excellence: Known for their operational excellence, Brothers Produce serves thousands of customers across multiple states with a fleet of 200 vehicles. ☑ Heritage and Growth: Founded by Martin Erenwert in the 1980s, Brothers Produce has grown from a single van operation to a powerhouse in food distribution. They will retain their brand identity and continue under the leadership of the Erenwert family. ☑ Technology Integration: GrubMarket will integrate its proprietary AI-powered technologies, including WholesaleWare, GrubAssist, and Orders IO, into Brothers Produce’s operations. ☑ Efficiency and Service Quality: These innovative solutions will streamline operations, enhance inventory management, provide intelligent analysis, and automate order processing, setting new standards for efficiency and service quality. ☑ Strategic Insight: This acquisition not only strengthens GrubMarket’s national presence but also exemplifies their strategy of merging traditional food distribution expertise with cutting-edge technology to revolutionize the industry. ☑ Future Prospects: With shared values and a solid foundation for growth, GrubMarket and Brothers Produce are poised to redefine the foodservice landscape in Texas and beyond, ensuring a brighter, more efficient future for the industry. For more details, read the full article in the comments below. 🔗 👇 #GrubMarket #BrothersProduce #FoodDistribution #TechInnovation #AIinFoodService #SupplyChainManagement #OperationalExcellence #FoodServiceIndustry #Acquisitions #SouthwestExpansion #FoodTech #BusinessGrowth #StrategicAcquisition #AItechnology #FoodSupplyChain #FutureOfFood #BuildaGreatCompany #BetheChange #D50 #Distrupt #FoodSupplyChainIndustry #Foodservice #AIStartup #Startups #OperationalExcellence #AgTech

Looking for advice on scaling your #startup to reach more consumers and earn more corporate venture funding? My colleague Richie Gray has you covered. Just don't ask him about that brogue! (Credit: Laura Shulman)

The trick to sustainably scaling your business during a rapid increase in demand? Christopher Kong, the co-founder and co-CEO of the plant-based food startup Better Nature, has an idea. Having successfully launched in major retailers like Lidl and Tesco, Chris reveals the key strategies that enabled Better Nature to grow despite increased pressure on cash flow, operations, and resources (spoiler alert: Mimo may or may not have played a part). Link to the full article in the comments.

This panel identifies critical factors to weigh before investing in your initial startup equipment, and how to balance them with your suppliers.

🚀 Exciting News! This week, we kicked off the inaugural NZFIN Food & Beverage Accelerator! 🌟 We have an incredible group of ambitious and driven founders ready to take their business to the next level. This week, our focus was on setting a clear direction for the next 12 months, with aspirational and well-considered commercial goals aligned with their values and mission. Over the next 8 weeks, we'll dive into creating a robust plan to achieve these goals! 👉 The next cohort kicks off late September. You can register your interest at www.rise-nz/nzfinfood&beverageaccelerator #FoodAndBeverage #Accelerator #StartupGrowth #FounderLife #BusinessGoals #CommercialSuccess #NZEntrepreneurs #Innovation #FutureFocused #RiseGrowthLab #fmcg #cpg #retail #businessgrowth #ambition #values #mission

💧💰🔝 Liquid Death has now raised more than $267 million in venture funding despite sitting in a category that doesn’t interest many investors. “We were in the market for culturally relevant companies with better-for-you products that redefined a tired and old category” #water #waterscarcity #watercrisis #tech #watertech #startup #innovation #future #sustainability #environment #technology #investment #capital #research #unitednations #climatechange #privateequity #venturecapital #bottledwater #FMCG

🚀 Exciting News! This week, we kicked off the inaugural NZFIN Food & Beverage Accelerator! 🌟 We have an incredible group of ambitious and driven founders ready to take their business to the next level. This week, our focus was on setting a clear direction for the next 12 months, with aspirational and well-considered commercial goals aligned with their values and mission. Over the next 8 weeks, we'll dive into creating a robust plan to achieve these goals! The next cohort kicks off late September. You can register your interest at www.rise-nz/nzfinfood&beverageaccelerator #FoodAndBeverage #Accelerator #StartupGrowth #FounderLife #BusinessGoals #CommercialSuccess #NZEntrepreneurs #Innovation #FutureFocused #RiseGrowthLab #nzfinfoodandbeverageaccelerator #ambition #values #mindset #businessgrowth #brandgrowth #FMCG #CPG #retail

🎣 Exciting News Alert! Captain Fresh, the B2B seafood startup, is making waves with its latest funding update! 🌊 British International Investment (BII) has come aboard, investing close to $7 Mn (INR 58 Cr) in the company. 🚀 In a recent development, around 500 Series C7 Compulsory Convertible Preference Shares (CCPS) were allotted to BII, marking their entry into Captain Fresh's cap table with a 1.45% stake. 📈 This collaboration is a testament to Captain Fresh's promising growth trajectory and the trust it has garnered from esteemed investors. This funding milestone is just a glimpse of the larger round Captain Fresh has embarked upon earlier this year. 🌟 With BII's support, the company is poised to further revolutionize the seafood industry and expand its reach. Founded by Utham Gowda in 2019, we started with a vision to power the seafood supply chain with exceptional solutions. stay tuned for more updates as Captain Fresh continues to make a splash in the market! 🎉 #SeafoodStartup #FundingNews #B2B #CaptainFresh #Investment #BritishInternationalInvestment #GrowthJourney 🐟