Rocket Internet’s FoodPanda food delivery service has pulled in another $60 million in a new round of funding. The investment, which was announced on Monday (Aug. 11), came from new investor Falcon Edge Capital along with Rocket Internet AG. This series D round brings FoodPanda’s total funding to $108 million.
The new money will be used to expand FoodPanda in its existing markets, “partnering with even more restaurants in more cities and further improving customer service,” FoodPanda global managing director Ralf Wenzel said in a statement. The funding will also be used to expand FoodPanda’s brands hellofood and Delivery Club, a Russian food delivery marketplace acquired by FoodPanda in June.
FoodPanda customers can order restaurant food for delivery through FoodPanda’s mobile app, which also gathers analytics and other information for the restaurants. FoodPanda is currently available in 40 countries, largely in Southeast Asia, Latin America, the Middle East, and Africa.
Like other Rocket Internet ventures, FoodPanda takes a business model that has proven successful and replicates it in emerging markets, where the startup cost is relatively cheap, TechCrunch reported. Rocket Internet has used the same approach with EasyTaxi; price comparison site PricePanda; and e-commerce companies Linio, Lazada and Zalora.
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