India-based online food delivery marketplace Foodpanda and its affiliates Hellofood and Delivery Club have raised $60 million in funding. The investors included Falcon Edge Capital and Rocket Internet AG.
New Delhi, 11th August 2014: foodpanda, together with its affiliated brands hellofood and Delivery Club, today 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.
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.
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.
foodpanda is the largest online food ordering platform in India with the widest gastronomic range to choose from. It enables ordering food in a quick, convenient and easy manner through the internet.
foodpanda currently enjoys the largest geographical presence in India with coverage of 3500 restaurants across 30 cities. It aspires to become the epitome of food ordering in India by making the business of online food delivery delightfully simple and hassle free. It renders ordering food online fast, fuss free and definitely fun by providing a restaurant index that facilitates searching for cuisine type, restaurants or even price range. With online menus from a staggering selection of delivery restaurants including address and delivery hours, foodpanda is helping people discover great food every day!