Asian Food Delivery Startup HungryPanda Closes $130M Funding Deal

London-based food and grocery delivery startup HungryPanda raised $130 million in a Series D funding deal led by Perwyn, with additional participation by Kinnevik, 83North, Felix Capital, Piton Capital, Vintage, Burda Principal Investments and Kreos Capital.

This latest infusion of capital will be earmarked to help the startup grow in the markets it serves, explore new business opportunities and possibly fund mergers and acquisitions, according to a press release on Friday (Dec. 17).

Read more: Growing HungryPanda Notches $70 Million In Funding

Founded in 2017 by founder and CEO Eric Liu, the company operates in 60 cities and 10 countries across the U.K., the U.S., Australia, Canada, France, Italy, Japan, New Zealand, Singapore and South Korea.

So far, HungryPanda has raised a total of $220 million. In the past year, it has expanded into several new countries across Asia, and has also grown its product offering to include Asian groceries under the Panda Fresh brand.

“HungryPanda has achieved exceptional growth over the last four years,” Liu said in the announcement. “We now have the ability and experience to launch and operate in new cities in just two weeks and have established ourselves as the market leader due to our laser focus on developing the best service and providing high-quality products for our customers.”

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Andrew Wynn, Perwyn founder and managing partner, said that the company sees great potential in the food and grocery delivery sector and that HungryPanda has a “deep understanding and extensive experience in targeting audiences.” Perwyn has especially been impressed by the “outstanding speed and scale and of their success and growth in this area.”

HungryPanda is currently the largest overseas Asian food delivery platform.

This year, the company also rolled out VouchersPanda, a platform for “discounted ordering methods of online and offline lifestyle services for overseas Chinese.”