BackFoodpanda raises $110 million from Rocket Internet, others
The company plans to invest this capital into further developing its product and technology
Premium(The company, which has acquired key competitors this year in India, Mexico, Russia, Brazil, Eastern Europe, Middle East and Asia, is currently present in 40 countries across five continents. )
New Delhi: Online food delivery marketplace Foodpanda said on Thursday that it had raised $110 million from existing investor Rocket Internet AG and new investors.
Foodpanda, which has raised more than $200 million since its launch in 2012, plans to invest this money in developing its product and technology.
The company, which has acquired key competitors this year in India, Mexico, Russia, Brazil, Eastern Europe, Middle East and Asia, is currently present in 40 countries across five continents.
“Over the last couple of months, we have become the leading online food delivery marketplace across the most promising and fastest growing emerging markets. The new funding allows us to fully focus on user experience and customer service with the aim of completely disrupting the way people order food by establishing a real alternative to pizza flyers and phone calls," said Ralf Wenzel, co-founder and chief executive of Foodpanda group.
Foodpanda is backed by Germany-based Rocket Internet, an e-commerce-focused venture capital firm and start-up incubator.
“This round of funding will allow us to scale up and strengthen the foodpanda brand across geographies," said Rohit Chadda, managing director and co-founder of Foodpanda.
In February, Foodpanda acquired food ordering portal Just Eat India in an all-stock deal in a move to strengthen its presence in the country just before online restaurant search portal Zomato announced its plan to enter the food ordering space.
In November, Foodpanda bought food delivery business TastyKhana.in for an undisclosed amount.
Gurgaon-based Foodpanda partners with over 45,000 restaurants across 40 countries. It offers menus from 12,000+ restaurants across 200+ cities in India. The company currently gets more than 100,000 unique visitors daily on its platform.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
