Foodpanda, the online food delivery marketplace, has secured new funding of $110 million (about Rs 682 crore) from Rocket Internet, existing and new investors.
Since its launch in 2012, the company has raised more than $200 million. The company will invest the proceeds in product and technology development, it said in a statement.
“The new funding allows us to fully focus on user experience and customer service with the aim of completely disrupting the way people order food by establishing a real alternative to pizza flyers and phone calls,” said Ralf Wenzel, co-founder and Chief Executive Officer of the Foodpanda group.
“This round of funding will allow us to scale up and strengthen the Foodpanda brand across geographies. We are strongly rooted in the belief that ‘customer is king’ and will continue working harder to reinforce our status as the prime choice when it comes to online food ordering,” said Rohit Chadda, MD and Co-Founder at Foodpanda said.