Munchies, a Karachi-based startup that raised $2.5 million in a pre-seed round, has shut down, sources told Profit.
Munchies’ mobile app appears to no longer accept delivery orders. The company’s management declined to confirm or refute the closing announcement.
Munchies announced in October that it had raised $2.5 million from Unilever Pakistan, one of the country’s leading FMCG companies, and Venture Dive in a pre-seed round.
Munchies has been testing its goods and services for two years before launching commercially in 2021. The startup only operated in Karachi and promised 30-minute delivery of quick pleasure products.
The startup claimed in its pre-seed funding announcement that the pilot prior to incorporation was successful enough to warrant a full-scale investment and legal existence. Munchies grew 40% month-on-month in daily orders and even higher in GMV (gross merchandise value), according to the statement.
Munchies had 3,000 daily orders until October 2021 and planned to expand to new cities before raising a larger round.
Unilever Pakistan denied knowledge of the closure.