Rocket Internet backed, FoodPanda.com has raised another USD 20 million in funding from a group of investors including Phenomen Ventures. The company plans to utilize the raised funds in further expansion and achieving its global ambitions of rolling out to over 40 markets by the end of Q1.
Including the latest round, the company has till date raised a total of USD 48 Mn in three rounds of fundnig. Apart from rocket internet and Phenomen, it is backed by investors such as Kinnevik and iMENA Holdings
Last year, FoodPanda expanded into 20 more countries and launched a mobile app for iOS and Android, which is currently one of the leading food delivery apps worldwide. Following its growth strategy, foodpanda expands its services into eight more countries including Croatia, Bulgaria, Serbia, Slovenia, Kazakhstan, Azerbaijan, Tanzania and Uganda in early 2014.
Rohit Chadda, Managing Director and Co-founder, FoodPanda India said, “ Globally with over 22,000 restaurants listed on our platform, this round of investment will be utilized to continue our expansion both globally into new markets as well as existing ones. In India, we will further scale up our operations across the country, including tier 2 and tier 3 cities and towns in order to reach as many customers as possible”
In India, Foodpanda is already in partnership with more than 3,000 restaurants across 14 cities, with some of the leading brands like Pizza Hut, Subway, Nirula’s, Faasos, Baskin Robbins, Ammi’s Biryani, Mast Kalandar etc. Also, it is about to complete its two years of operations in India in the coming May 2014.
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