Foodpanda bags USD 20 mln funding!
Foodpanda, a leading food delivery chain in the world currently operating in over 27 countries including India, has secured USD 20 million funding from from a group of investors including Investment AB Kinnevik and Phenomen Ventures.
Foodpanda’s parent company Rocket Internet operates multiple online businesses in India that include leading e-commerce site Jabong.com, online printing solutions printvenue.com and online furnishings ecommerce platform fabfurnish.com. Rocket Internet’s other ventures in India are 21diamonds.com, cuponation.com, officeyes.com and wimdu.com
Foodpanda, which focuses especially on emerging markets had launched its operations in India in the June of last year and has been growing at a steady pace. According to press release sent to us, Foodpanda has expanded in 15 more countries and also have recently launched a mobile app for iOS and Android platforms and has already become the leading food delivery app in most countries.
Foodpanda currently has over 15,000 restaurants worldwide and is a market leader in the majority of the countries the company operates in.
In March, Foodpanda launched its online food delivery website in India, foodpanda.in, where users can directly order from the listed restaurants and get their food orders delivered at their door steps.
Foodpanda is probably the only food delivery platform currently that has a global operations and
We have got in touch with their global managing director, Ralf Wenzel to understand more about their current scale and expansion plans in India. We will update this post when we receive more information on this.
Update: Here are the answers to few quick questions we put across to Ralf Wenzel.
1) What are Foodpanda’s expansion plans in India and in the whole scheme of things, how important is India as their growth market?
India is one of our key markets and has been instrumental in driving the shift from offline to online. Keeping in mind the market potential and our development over the last year, we are convinced that this will have a great impact on our global success.
2) Currently, how many Indian establishments are listed in India?
Currently, foodpanda India operates in ten cities in India: Delhi, Gurgaon, Faridabad, Noida, Ghaziabad, Mumbai, Bangalore, Hyderabad, Pune and Chandigarh. We have online ordering partnerships with over 2000 restaurants, including some of the leading brands like Pizza hut, Subway, Nirula’s, Faasos, Baskin Robbins, Ammi’s Biryani, Mast Kalandar etc.
What is Foodpanda’s monetisation strategy?
We take a small commission from restaurants for every successful order and bring restaurants new customers and incremental revenue. Hence restaurants always do additional business when working with foodpanda.
4) This new round of funding… Can you please offer details on how these funds are going to be utilized. (especially in India)
Our customers will be the ones to see the main benefits coming from this investment. They made the business what it is today and therefore we will focus on our customer services. Further, this round of investment will be utilized to expand our reach by moving to more cities.