Venture capitalists are pulling back from start-ups that promise the rapid delivery of everything from groceries to dog walkers as the companies face pushback from workers and policymakers critical of their business models.

Funding for start-ups providing "on-demand" services across the world plunged 22% to $16.3bn (about R237bn) in the 12 months ended September, according to a report by analysts at Goldman Sachs. The drop largely affected ride-hailing, food delivery and "other services with internet convenience advantages".

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