Rocket Internet’s Foodpanda fattens up with $110M funding

by Tech in Asia

Rocket Internet's Foodpanda

Rocket Internet’s online food ordering service Foodpanda revealed today that it has secured US$110 million in funding – far and away its biggest investment to date. This covers Foodpanda, which operates in 14 Asian nations, and sister sites Hellofood and Delivery Hero. Under its various brands, it now covers 40 countries.

This comes seven months after its previous funding round, which was worth US$60 million. In total, Foodpanda has now raised US$218 million.

The blockbuster US$110 million comes from Germany-based startup dynamo Rocket Internet, existing investors, and some undisclosed new investors.

Last month Foodpanda went on an acquisitions spree, snapping up six rival sites across seven Asian countries.

Tim Schefenacker, Foodpanda’s head of communications, confirmed to Tech in Asia this afternoon that Foodpanda isn’t planning new market launches in Asia; instead it will “further improve our services in our existing countries after we consolidated our position through acquisitions, especially in Asia.”

This post Rocket Internet’s Foodpanda fattens up with $110M funding appeared first on Tech in Asia.

from Tech in Asia

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