HungryPanda, a food delivery platform targeting Asian communities, has scooped $55 million in funding. The round was led by Mars Growth Capital, a JV between Liquidity Group and MUFG, with continued support from existing investors, including Perwyn, Kinnevik, 83North, and Felix.
This investment follows the recent funding in rapid delivery service providers, including Zepto, Rohlik, Flink, and others.
In 2021, the company raised $130 million in Series D to expand into new markets and explore mergers and acquisitions. To date, HungryPanda has raised over $275 million in funding and entered a new growth phase. With this round, the company has reached a valuation of nearly $500 million.
This new funding will enable the company to solidify its leadership in the Asian food delivery market and explore new opportunities to serve a broader range of minority ethnic communities, particularly in North America.
“HungryPanda has been able to carve out an impressive niche in the highly-competitive food delivery vertical, and as a result, has experienced double-digit growth while continuing to strengthen its position as a market leader,” said Paul Brodie, Managing Director, Europe at Mars Growth Capital and Liquidity Group. “We are excited to be part of HungryPanda’s next chapter along with its existing investors.”
Food and grocery delivery app
Founded in 2017 in London by Eric Liu CEO, HungryPanda is a food delivery app that serves Asian food, groceries, and ingredients to customers in over 80 cities across 10 countries. The company aims to provide Asian expats with a taste of home.
It offers a wide range of Asian cuisines, including milk tea, roast duck, hot pots, and more. Other interesting aspects include same-day delivery, contact-free delivery, and 24/7 customer service. The ordering platform provides a tailored user experience to Asian users living and traveling abroad, bridging cultural and language barriers. Additionally, it empowers Asian restaurants to connect with the right customers and provide efficient delivery services.
It services more than 6.5 million users in partnership with over 100,000 merchants. In 2024, HungryPanda achieved profitability while maintaining an annual growth rate of over 30%, a remarkable achievement in the competitive food delivery industry.
“Reaching profitability while maintaining significant growth demonstrates the strength of our business model and our long-term vision. This success is a testament to the dedication and hard work of our entire team,” said Eric Liu, Founder and CEO of HungryPanda. “HungryPanda is more than just a delivery platform—we see ourselves as an ambassador of Asian cuisine. With this new funding, we are poised to accelerate our expansion into North America, elevate our services, and continue to champion the richness of Asian food culture on a global scale. We are especially grateful for the support from Mars Growth Capital and Liquidity Group, whose partnership will help us achieve our ambitious goals.”
“I am proud of how HungryPanda has positioned itself uniquely within the food delivery sector by focusing on the specific needs of Asian communities globally,” said David Buttress, Chairman of the Board at HungryPanda. “Our targeted approach and deep understanding of this market have been key drivers of our growth and success. “As we continue to scale, I am confident we will further solidify our leadership in this space and capitalise on new opportunities.”
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