Rocket Internet backed, Foodpanda.com, had raised more than USD 20 million in funding from a group of undisclosed investors, which include Investment AB Kinnevik and Phenomen Ventures and more. The new capital will be used to accelerate growth and optimized customer service across the countries with its presence.
On contacted by Iamwire, Amit Kohli, MD Foodpanda India, said that the company had raised funds in between USD 20-26 million. The part of raised capital will be deployed in expansion and marketing of Foodpanda in India. Currently, Foodpanda is working in 10 cities in the country, and is expected to extend in 5 more cities.
Foodpanda.com is operating with its affiliated brand Hellofood and had it’s presence in 27 countries, reaching around 3 billion people worldwide. In past few months, it had extended its presence in around 15 countries and had also launched mobile app for iOS and Android. It is operating with more than 15,000 restaurants worldwide, and 2,000 in India alone.Category Investments News