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HungryPanda raise $130 million in follow-up investment

02 February 2022

Fresh money for HungryPanda

In 2020, BurdaPrincipal Investments (BPI) invested in the delivery service HungryPanda for the first time – since then, the young company has made great progress and it was able to raise another $130 million in new funding in December 2021. BPI, the growth capital arm of Hubert Burda Media, was among the existing investors that participated again in the latest Series D financing round, along with Kinnevik, Piton Capital, 83North and Felix Capital. The round was led by the new investors Perwyn and Kreos Capital. With the fresh capital, HungryPanda further expands its business and acquires the Australian competitor Easi.

 

Authentic delivery service on the rise

In the past year, HungryPanda expanded into new countries across Asia, and it is also broadening its offering so that users can now also have products from Chinese grocery stores delivered. So far, HungryPanda has focused on Chinese restaurants. For the restaurants, the platform makes finding the right customers easier: Chinese people living abroad who don’t want to miss out on authentic food. HungryPanda offers them a specialized online ordering platform that is tailored to their needs and user behavior – without language or cultural barriers.

As part of its growth strategy, HungryPanda acquired Easi from Australia. Like HungryPanda, the delivery service from Melbourne provides Asian food to customers and operates in 30 cities in Australia, New Zealand, Japan, the UK, the US, and Canada. With the acquisition, Australia will become HungryPanda‘s largest market. In addition, the portfolio company also aims to expand its market presence in the United States and Canada with the merger.

“We are excited about the tremendous growth HungryPanda has achieved over the past year and we are proud to be part of its development as an investor. With the acquisition of Easi, HungryPanda has taken another big step, and expanding the business model to include deliveries from Chinese grocery stores is just one example of how customer-focused Eric’s team is. HungryPanda still has a lot of potential to build on its success, and we look forward to supporting the team as they continue their journey!”

Natalie Schmitke, Principal at BPI

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by Katharina Richter
Senior PR Manager, Hubert Burda Media
katharina.richter@burda.com