Foodpanda raises $20 million from AB Kinnevik and Phenomen Ventures
Rocket internet's Foodpanda, a growing food delivery service worldwide, has secured a US$ 20 million funding from a group of investors. The investors include AB Kinnevik and Phenomen Ventures. In the last few months, Foodpanda together with its affiliated brands has expanded into 15 more countries. It co-
operates with about 15,000 restaurants and is already a market leader in majority of the countries the company operates in. It recently has also taken over the assets of its competitor Ételvitel KFT in Hungary.In India, Foodpanda has partnered with 2,000 restaurants across 10 cities, with brands like Pizza Hut, Subway, Nirula’s, Faasos, Baskin Robbins, Ammi’s Biryani, Mast Kalandar etc. in its network.
Amit Kohli, Managing Director and Co-founder, India said, "Foodpanda India has become one of the largest food ordering portals in India in less than one year of its commencement of operations, and this investment is a testimony to the faith that investors have in our team, and on our business model. This round of investment will be utilized in further accelerating our growth, through significant investments in shaping the market, while maintaining our focus on streamlining our internal and customer facing processes."
Rohit Chadda, Managing Director and Co-founder, India added, “This is an exciting time for us. The confidence that investors have shown in Foodpanda reaffirms our position as a global food delivery platform. The investment will help us expedite growth and achieve our vision of making Foodpanda synonymous with food ordering.”
We have reached out to the founders. Stay tuned, as we bring you more updates from this funding news.