HungryPanda, the UK-based operator of a food delivery service aimed at the Chinese diaspora, has secured $70m in series C funding from investors including media group Hubert Burda, TechCrunch reported today.
Investment firm Kinnevik led the round, which included venture capital firms 83North, Piton Capital and Felix Capital. Hubert Burda participated in the round through its Burda Principal Investments subsidiary.
Founded in 2016, HungryPanda runs an online platform that allows users to order specialised Chinese food and groceries for home delivery. It concentrates on Chinese expats and operates in 47 cities across the UK, US, France, Australia and New Zealand.
The company’s platform is only available in Mandarin and its service manages to be more efficient than many such businesses because it typically delivers to large groups in places such as student dormitories, according to founder and chief executive Eric Liu.
Liu told TechCrunch the company is profitable in New York City as well as some of its earlier UK markets. Its only previous funding consisted of a $20m round in February this year that was co-led by 83North and Felix Capital.
