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The Guardian - AU
The Guardian - AU
Business
Ben Butler

Australian grocery delivery startups face funding difficulties as venture capital checks out

Milkrun rider
Milkrun, a grocery delivery service, has rejected any comparisons with Send or Quicko, two competing grocery delivery services that collapsed in the last two months. Photograph: Blake Sharp-Wiggins/The Guardian

Inner-city residents who enjoy getting groceries delivered in 10 minutes from services such as Milkrun should enjoy it while it lasts.

Analysts say rising inflation and interest rates have made venture capitalists – who have, over the past decade, been willing to throw billions of dollars into “disruptive” businesses like Uber on the chance they might one day turn a profit – far more conservative with their cash.

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