India-based global food delivery marketplace, Foodpanda, has raised $110 million in a fundraising round led by Rocket Internet AG.
Foodpanda has a presence in over 40 countries worldwide, of which it is a market leader in 32. It partners with 45,000 global restaurants and over 12,000 restaurants across 200 cities in India alone.
Earlier this year Foodpanda acquired JUSTEAT in India, securing its place as the market leader in one of the world’s fastest growing emerging economies in the world, and has also recently acquired key competitors in India, Mexico, Russia, Brazil, Eastern Europe, the Middle East and Asia.
Since being floated in 2012, the company has raise $200 million and plans to invest in technology and its product, strengthen its brand, and increase scale across various geographies.
Food delivery in India is booming. In November 2014 Foodpanda made its first acquisition of TastyKhana.in, strengthening its presence in the country. At the same time Zomato, which has over 30 million visits per month, has launched its pilot food delivery program, and will be expanding into major cities this month. A third player, Mumbai-based Tiny Owl, launched in 2014, has raised US$15.9 million in a Series B round of fundraising from Matrix Partners, Sequoia Capital, and Nexus Ventures. In less than a year, Tiny Owl has expanded to processing over 2,000 orders per day and servicing over 4,000 restaurants.
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