A London based global leader of delivering Asian food, HungryPanda has raised US$ 70 million funding on 30th November 2020. This includes US$ 35 million investment from the Swedish investment company Kinnevik.
This Series C funding was also joined by the existing investors of HungryPanda, Felix Capital and 83North and included participation from Burda Principal Investment, Piton Capital and VNV Global. The total capital of the company comes to US$ 90 million till date with this funding and all of it was raised this year. The company is known to have experienced great growth since its inception and now delivers across Asian countries in six countries.
HungryPanda has a community focused approach which allows them to build a striking sub-sub-segment in the online food delivery domain. It is already running with good profit in the United Kingdom and some big cities like New York. The present valuation of HungryPanda is not yet disclosed. This funding will help to build the food strategy of the company further.
The CEO of Kinnevik, Georgi Ganev said, “We can see an opportunity for the community specific marketplaces with the digital adoption as they have a better understanding of their target audience and a more specific product. We are very impressed by how Eric (CEO of HungryPanda) and his team gives their first hand consumer empathy for expanding their company by keeping their capital efficient. We look forward to help the HungryPanda team to scale across audiences, products and regions”
The company follows a different approach by focusing on a certain community. They have a tailored user experience with payment and language options that help in overcoming cultural barriers. For HungryPanda, their consumers are the center of their company and business for which they provide a one stop shop solution for overseas Chinese. They aim at connecting merchants to the customers with their online platform and leading food delivery service. They consolidate the end-to-end value chain for the overseas Chinese food market to leverage scale and efficiency.
The company is headquartered in the UK and was founded in 2016 by Eric Liu. It is a specialist virtual delivery platform that provides authentic Chinese groceries and food for Chinese people and students residing abroad. They have their reach in more than 60 cities across Australia, New Zealand, US, Canada, France, UK and more. The platform is the global leader with great market coverage and highest annual transaction volumes and user traffics.
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