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May 08, 2013

Deal Alert: Rocket Internet’s FoodPanda raises $20-M from AB Kinnevik, Phenomen Ventures

FoodPanda, an online food delivery site promoted by European VC firm Rocket Internet, has secured more than $20 million funding from a group of investors including AB Kinnevik and Phenomen Ventures. The company focuses especially on emerging markets, operates together with its affiliated brand hellofood already in 27 countries on four continents and reaches about three billion people worldwide. It plans to use this investment to expand to other countries and optimize its customer service. AB Kinnevik owns a 24.2% stake in the parent company, Rocket Internet.

The company had launched its Indian operations in June 2012, after being in stealth mode for a few months. At launch, FoodPanda was limited to Delhi and listed 232 restaurants in the city. It claims to offer online food ordering service for around 1,800 restaurants across 10 cities in India including Bangalore, Delhi, Noida, Hyderabad, Mumbai, and Pune among others.

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