Kinnevik : Invests $35 Million in HungryPanda Funding Round

By Dominic Chopping

STOCKHOLM--Swedish investment firm Kinnevik AB said Monday that it is investing $35 million in a $70 million funding round in online Asian food-delivery company HungryPanda.

HungryPanda provides an online ordering platform for Chinese customers living abroad, offering tailored language and payment options.

Headquartered in London, HungryPanda was launched in 2017 by founder Eric Liu and now has a 500-person strong team operating in six countries.

Kinnevik said it is joining previous investors 83North and Felix Capital, who between them have experience of building sector-leading platforms including Wolt, Deliveroo and Just Eat.

Other investors joining this round include Piton Capital, VNV Global AB and Burda Principal Investment.

"As digital adoption advances, we see an opportunity for community-oriented marketplaces that have a deeper understanding of targeted audiences and a more tailored product," Kinnevik Chief Executive Georgi Ganev said.

"We have been impressed by how Eric and team have leveraged their first-hand user empathy to rapidly scale HungryPanda while remaining capital efficient."

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

11-30-20 0330ET