Online food ordering platform Foodpanda raises $60 m

Our Bureau Mumbai | Updated on November 27, 2017 Published on August 11, 2014

Online food ordering portal foodpanda, together with its affiliated brands hellofood and Delivery Club, has raised $60 million (Rs 360 crore) from a group of investors, including existing investors such as Falcon Edge Capital and Rocket Internet AG.

The portal, which was launched in 2012, has so far raised over $100 (Rs 600 crore). 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.

It plans to use the funds for global expansion and acquisitions, the company said in a release.

Rohit Chadda, MD and Co-Founder, 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.”

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 favourite 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.

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Published on August 11, 2014
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