Term Sheet -- Tuesday, March 5

Term Sheet -- Tuesday, March 5

  • CHAPTER 11Embattled food delivery startup Munchery has officially filed for bankruptcy, and it owes a whole lot of people a whole lot of money.
  • The company owes $28.5 million in secured debt to lenders and $6 million in unsecured debt (half of it is to 230 vendors and suppliers and the other half is to thousands of former customers who are holding unfulfilled gift cards), according to a Chapter 11 filing.
  • DST Global led the round, and was joined by investors including Coatue, General Atlantic, ICONIQ Capital, Dragoneer Investment Group, Menlo Ventures, Forerunner Ventures, and Cathay Innovation.
  • Sunley House Capital Management led the round, and was joined by investors including Draper Esprit.
  • Accel led the round, and was joined by investors including Founders Fund, NGP Capital, Qualcomm Ventures LLC, and Newfund.


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