Rocket Internet Venture Foodpanda Raises $20 million Funding
Rocket Internet venture Foodpanda has raised over $20 million funding from a group of investors led by Investment AB Kinnevik and Phenomen Ventures. Foodpanda is based in Berlin. The company will be utilizing the funds for further expansion, growth and streamlining processes.
Foodpanda, based in Berlin and its affiliated brand hellofood entered 15 new countries, and is now active in 27 different markets. In India, Foodpanda is in partnership with more than 2,000 restaurants across 10 cities with some of the leading brands like Pizza Hut, Subway, Nirula’s, Baskin Robbins, Ammi’s Biryani, etc.
Once customers enter their location on foodpanda, they can browse through delivery options in that region. Before ordering, they can check out ratings, estimated delivery time and fees, look through the menu, and then place the order online. The approach is not only convenient for customers, but also helps restaurants increase their sales and distribution. Foodpanda helps restaurants to increase sales through online and mobile platforms (iOS and Android) and provides them with constantly evolving technology and analytics.
Foodpanda’s focus is on emerging markets in South America, Asia, Africa, and Eastern Europe. hellofood and foodpanda are offering their services in India, Indonesia, Malaysia, Pakistan, Singapore, Taiwan, Thailand, Russia, Argentina, Brazil, Romania, etc.