Weezy is considering selling its on-demand grocery business as the industry considers consolidation.
The startup, which was founded in 2019, is currently working alongside investment bank Evercore to explore the potential sale of its operation, according to Bloomberg.
Weezy recently completed a $20 million funding round from venture capital firms DN Capital, Left Lane Capital, and Heartcore Capital.
Both Evercore and Weezy have so far declined to comment on the matter.
Weezy currently has an annual revenue run-rate of around $20 million to $25 million, Bloomberg reported.
The startup sells more than 2,000 products including store cupboard items, snacks and alcohol through its urban fulfilment centres and promises to deliver goods in 15 minutes or less.
Rapid grocery delivery boomed during the pandemic as shoppers struggled to get to the supermarkets, providing an open plain for a range of startups such as Gorillas, Getir, Fancy and Zapp to take a piece of the market.
However, as competition has heated up in recent months and the industry has started consolidating.
Gopuff announced last month it was acquiring grocery delivery startup Dija in a bit to expand its European operations, after buying Fancy back in May.