London-headquartered HungryPanda, a food delivery startup that caters for Asian restaurants and populations overseas, has today announced it’s closed a $130m Series D funding round – just over a year after its $70m Series C.
Its latest round was led by the family-backed private equity and growth investor Perwyn, alongside investors Kinnevik, Felix Capital, 83North, Piton Capital, Vintage, Burda Principal Investments and debt provider Kreos Capital.
Founded in Nottingham in 2017, the rapidly growing platform has now raised a total of $220m over the last three years, and is now operating in more than 60 cities across the world.
Following from its Series C funding round almost this time last year, HungryPanda has aggressively expanded in multiple countries across Asia, as well as expanding its offering to Asian grocery delivery.
HungryPanda now operates in cities across the UK, the US, Australia, Canada, France, Italy, Japan, New Zealand, Singapore and South Korea.
Its platform is in Mandarin, and it takes payment through Alipay and WeChat.
Following the latest cash injection, HungryPanda said it will invest in growing its market share, expanding its market offering – especially in the “lifestyle services” space – and will explore strategic acquisition opportunities.
It will also funnel the fresh funds into developing its technology, business strategy, and expanding headcount.
“HungryPanda has achieved exceptional growth over the last four years,” said founder and CEO Eric Liu.
“We now have the ability and experience to launch and operate in new cities in just two weeks and have established ourselves as the market leader due to our laser focus on developing the best service and providing high-quality products for our customers.”