🍜 HungryPanda's Latest Funding Success
HungryPanda has raised $55M at a valuation of around $500M, led by Mars Growth Capital and joined by backers like Perwyn and Felix. The company has raised $275M to date. This new funding round will support its expansion into groceries, tech updates, and acquisitions. CEO Eric Liu said, "Reaching profitability while maintaining significant growth demonstrates the strength of our business model." The company operates in 80 cities across 10 countries, serving 6.5M customers and partnering with 100,000 merchants globally.
🌍 Growing Reach and Customer Base
Founded in London in 2017, HungryPanda targets the Chinese diaspora. Originally designed for students, it now caters to a broader Asian audience and food enthusiasts. With a growing footprint, it has expanded from 47 cities in 2020 to 80 cities in 2024, including Australia, New Zealand, and the U.S. It aims to reach $1B in gross transaction volume by year-end, with its customer base growing from 6M to 6.5M in just a few months.
🚀 New Focus on AI and Tech
HungryPanda plans to use part of the new funding to enhance its technology, focusing on AI and machine learning. This will help optimize its operations and improve delivery efficiency. Liu emphasizes the importance of tech innovation to maintain their growth trajectory. The company has already integrated multiple languages into its app and aims to streamline operations even more to meet its ambitious goals in the food and grocery delivery sectors.
🍣 The Future of Asian Cuisine Abroad
HungryPanda’s mission goes beyond food delivery. It sees itself as a cultural ambassador, promoting authentic Asian cuisine to a global audience. “Thanks to our combined Eastern and Western cultural background, we understand the challenges faced by Asian food merchants abroad,” Liu said. The app now supports English, Chinese, French, Japanese, and Korean, catering to a wider group, including non-Asian food lovers. As a result, HungryPanda has expanded beyond just Chinese cuisine, embracing a more comprehensive Asian food culture experience.
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