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Food delivery startup Foodpanda raises $60M

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Image Credit: Foodpanda

Online meal delivery service Foodpanda has raised a fresh $60 million round of funding, the company announced today.

Foodpanda is part of a growing list of food delivery startups that have been gaining attention over the last year. The startup itself operates similarly to GrubHub in the sense that users can browse a list of restaurant delivery options within their specific city. To help you decide where to eat, Foodpanda offers restaurant ratings, estimated delivery times, fees, an online menu, and more. The service is nice for customers but also helps food vendors extend their business and distribution beyond a brick-and-mortar store.

The company will use the additional capital to continue its global expansion. The service is already available in over 40 countries.

The latest funding comes from Falcon Edge Capital, Rocket Internet AG, and other existing investors. Founded in 2004, the Berlin-based startup has now raised $80 million in funding to date and competes primarily with London-based meal delivery service JustEat.

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