
Rocket Internet’s Foodpanda secures $20m in funding
Foodpanda, an online meal delivery marketplace incubated by Rocket Internet, has received $20 million in funding from several venture capital firms, including existing investor Phenomen Ventures.
The proceeds will be used to expand the company's global footprint, opening new shops in 40 countries, including Croatia, Bulgaria, Serbia, Slovenia, Kazakhstan, Azerbaijan, Tanzania, and Uganda within weeks, according to a statement.
Founded in 2012, Foodpanda enables a customer to select a meal online and then processes the order directly to the restaurant, which delivers the food to the customer. It currently partners with more than 22,000 restaurants.
Foodpanda, a sister brand of Hellofood, secured more than $20 million from Phenomen Ventures and Investment AB Kinnevik last year, along with $8 million from iMENA Holdings.
Following these investments, the firm expanded into 20 more countries and launched a mobile app for iOS and Android operation systems. It is now active in 34 countries, 10 of which are located in Asia.
Rocket's Asian ventures include Lazada, Zalora, Wimdu, Office Fab and Pricepanda. Last month, online price comparison platform Pricepanda raised $3 million from German retailer Tengelmann Group to expand its Southeast Asia market.
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