NEW DELHI, Oct 27: Online food ordering platform Foodpanda is in talks with investors to raise funds for financing its expansion plans.
The company plans to have presence in top 15 cities of the country by the end of this calender year. Also it plans to expand the network of restaurants to over 2,500 by December- end, from around 2,300 at present.
“We are in talks with investors to raise funds for fueling our expansion plans,” Foodpanda co-founder Rohit Chadda said.
He, however, did not reveal the names of investors and amount of funding.
The platform, which helps customers order food online from the nearest restaurants, had raised USD 20 million funding from a group of investors, among them Investment AB Kinnevik and Phenomen Ventures early this year.
Its services are available in 14 cities, including Delhi NCR, Mumbai, Bangalore and Hyderabad. It recently started services in Kolkata, Ahmedabad and Gandhinagar and plans to cover Chennai by the end of next month.
Foodpanda had started operations in the country with 55 food points last year.
Its affiliated brands — foodnation, hellofood and hungrypanda — are active in 25 countries, including India, Indonesia, Malaysia, Pakistan, Singapore, Taiwan, Thailand, Russia, Argentina, Brazil and Romania. (PTI)
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