Foodpanda raises Rs 125 cr funding

Written by Press Trust of India | New Delhi | Updated: Feb 5 2014, 03:03am hrs
Online food ordering platform Foodpanda has raised USD 20 million (about Rs 125 crore) from a group of investors, including Phenomen Ventures.

The firm plans to utilise the funds for expanding its domestic and global presence and towards streamlining operations. So far, the company has raised USD 28 million in investments, including USD 20 million (in May last year) and USD 8 million in September 2013.

"With the new investment, we are aiming to continue our global ambitions. We want to roll out services to over 40 global markets by the end of Q1 this year and 20 cities in India," Foodpanda Managing Director and India Co-founder Rohit Chadda told PTI today.

Currently, the company has presence in 34 countries and 14 Indian cities. Last year, Foodpanda expanded into 20 countries and launched a mobile app for iOS and Android platforms.

"We are expanding services into eight more countries including Croatia, Bulgaria, Serbia, Slovenia, Kazakhstan, Azerbaijan, Tanzania and Uganda in early 2014," he said.

In India, Foodpanda is in partnership with more than 3,000 restaurants across 14 cities with brands like Pizza Hut, Subway, Nirula's, Faasos, Baskin Robbins and Ammi's Biryani.

"Globally, we have over 22,000 restaurants listed on our platform. This round of investment will be utilised to continue our expansion both globally into new markets as well as existing ones," Chadda said.