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foodpanda group raises another US$60mn; aims leadership in emerging markets

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

August 11, 2014 2:24 IST | India Infoline News Service
foodpanda, together with its affiliated brands hellofood and Delivery Club, announced another financing round of $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 $100 Million. Recently, the company acquired competitor Delivery Club, making it the leading food delivery marketplace in Russia.

 
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.”

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.
 
In 2013, foodpanda secured more than $20 Million funding from Phenomen Ventures and Investment AB Kinnevik, and $8 million from iMENA Holdings. Another $20 Million from a group of investors, including Phenomen Ventures, was collected in February 2014.

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