Investments

Foodpanda Group Raises USD 60M; Aims Leadership in Emerging Markets

To strengthen and expand position in existing countries,  Foodpanda, together with its affiliated brands hellofood and Delivery Club, today announced another financing round of USD 60 million from a group of investors, including various existing investors, Falcon Edge Capital and Rocket Internet AG. Since its launch in 2012, foodpanda/hellofood has raised over USD 100 Million.

Recently, the company acquired competitor Delivery Club, making it the leading food delivery marketplace in Russia.

hellofood

See Also: Foodpanda partners with Openrice, as a step to further enhance its business

Mr.Rohit Chadda, MD and Co-Founder, foodpanda.in said, “The fresh round of capital investment is a testament of investor confidence and an acknowledgement of our successful business model. We plan to use these funds to further consolidate our position as the market leader and continue our growth in the existing markets while further improving our customer experience.”

 Mr.Vijayendra Singh, MD and Co-Founder, foodpanda.in said, “We are pleased to announce the latest round of funding. We want to firmly establish ourselves as the easiest and most preferred way to order food regardless of the location with our wide-spread network of the best and top quality partner restaurants and exclusive food deals.”

The marketplace helps restaurants to increase delivery sales through online and mobile platforms, and provides them with constantly evolving technology and analytics. Customers can choose their favorite meal online, and Foodpanda sends the order directly to the restaurant, which delivers the meal to the customer. The company has recently launched its next generation mobile application available on major platforms.

Popular Read:  Fundingwire - 10i Commerce Raises $5M from Nandan Nilekani & 5 More Investment Updates

In 2013, Foodpanda secured more than USD 20 Million funding from Phenomen Ventures and Investment AB Kinnevik, and USD 8 million from iMENA Holdings. Another USD 20 Million from a group of investors, including Phenomen Ventures, was collected in February 2014. It is active in more than 40 countries on five continents.

To contact the author, email at sujata@iamwire.com.

Share your experiences, opinions or solutions: Submit a Post.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>