Munchies, a Karachi-based quick commerce startup that raised pre-seed funding five months ago, has shut down operations.
Tell me more: Munchies launched in 2021 after testing its services in the pilot phase for two years.
It is a snack delivery service that delivers products like chips and ice creams within 30 minutes. These are products that people usually crave but wouldn’t want to step out of the house.
That was the value proposition for munchies. It provided instant gratification.
The startup claimed to have witnessed a 40% month-on-month growth in daily orders and even higher gross merchandise value.
Munchies had reached 3,000 daily orders until October 2021 and had plans of expanding operations to other cities before its unexpected shutdown.
You should know: Munchies was founded in 2019 by Saad Fazli. It raised $2.5 million in pre-seed funding from Unilever Pakistan and VentureDive last year.
Munchies was operating on the dark stores model. The products were stored by Munchies and were then delivered to customers from these dark stores.
Zoom Out: There are a lot of grocery delivery startups in Pakistan, but Munchies is one startup that was solely focused on providing snacks and drinks to curb cravings.
It was operating in a niche market, and the demand for these products was mainly from the millennials.
Munchies seemed to have a lot of growth potential, and the shutdown is all the more shocking since it raised its pre-seed round just a few weeks ago and was looking to raise even more funding later.
