Food delivery site Foodpanda secures over $20 million in funding

NEW DELHI: Global online food delivery site Foodpanda on Wednesday said it has secured over $20 million (about Rs 108 crore) in funding from a group of investors.

"Foodpanda secured more than $ 20 million funding from a group of investors, among them Investment AB Kinnevik and Phenomen Ventures," the company said in a release.

In the last few months, the firm and its affiliated brands have expanded into 15 more countries. It co-operates with more than 15,000 restaurants, it added.

"This round of investment will be utilised in further accelerating our growth, through significant investments in shaping the market, while maintaining focus on streamlining our internal and customer facing processes," Foodpanda India Managing Director Amit Kohli said.

In India, Foodpanda is in partnership with more than 2,000 restaurants across 10 cities with some of the leading brands like Pizza Hut, Subway, Nirula's, Baskin Robbins, Ammi's Biryani, etc.

Foodpanda and its affiliated brands -- foodnation, hellofood and hungrypanda -- is the leading group of online food ordering platforms active in 25 countries.

Along with hellofood, foodpands are offering their services in India, Indonesia, Malaysia, Pakistan, Singapore, Taiwan, Thailand, Russia, Argentina, Brazil, Romania, etc.

It helps restaurants to increase sales through online and mobile platforms ( iOS and Android) and provides them with constantly evolving technology and analytics.