HungryPanda, an online delivery platform for Asian food, has raised $70 million in a funding round, with a $35 million investment from Swedish investment firm Kinnevik.
Launched in 2017, HungryPanda provides a specialist online food ordering platform for overseas Chinese populations, with a tailored user experience, including language options.
Since its inception, the London-headquartered business is said to have experienced rapid growth and now serves Asian restaurants in six countries worldwide, including the US.
Kinnevik is joining previous investors 83North and Felix Capital, which between them are said to have experience of building platforms such as Deliveroo and Just Eat.
Other investors backing this round include Piton Capital, VNV Global and BurdaPrincipal Investments.
“As digital adoption advances, we see an opportunity for community-oriented marketplaces that have a deeper understanding of targeted audiences and a more tailored product,” said Kinnevik CEO, Georgi Ganev.
“We have been impressed by how Eric and team have leveraged their first-hand user empathy to rapidly scale HungryPanda while remaining capital efficient. We look forward to helping the team expand across products, regions and audiences.”
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