Munchies has closed five months after announcing a $2.5 million pre-seed round.
Munchies, a Karachi-based rapid commerce startup, has shut down five months after collecting $2.5 million in a pre-seed round, according to reliable sources.
Also, it appears that the Munchies mobile app is no longer accepting delivery orders. The company’s management, on the other hand, declined to confirm or refute the shutdown announcement.
Munchies, which was founded in 2019 with $1.5 in funding from Unilever Pakistan and VentureDive, revealed in October that it had raised $2.5 million in a pre-seed round from Unilever Pakistan, one of the country’s major FMCG firms, and Venture Dive.
Munchies had been evaluating its product and services for two years in a pilot phase before launching commercially in 2021. The firm exclusively operated in Karachi and offered quick satisfaction products with a 30-minute delivery guarantee.
The firm claimed in its pre-seed funding release that the pilot prior to incorporation was effective enough to deserve a full-scale investment as well as a legal existence. Munchies has been growing at a rapid rate of 40% month over month, with “40% month over month growth in daily orders and even higher for GMV (gross merchandise value), at a scale that is already quite substantial,” according to the statement.
Munchies had reached 3,000 daily orders till October 2021 and had ambitious intentions to expand into additional locations before raising a larger round.
