HungryPanda raises $55m led by Mars Growth Capital

This aims to accelerate their expansion and service developments. 

Asian food delivery platform HungryPanda has announced the completion of a $55m refinancing and fundraise, which was led by Mars Growth Capital, a joint venture (JV) between Liquidity Group and MUFG.

It also has ongoing support from HungryPanda's existing investors, including Perwyn, Kinnevik, 83North, and Felix. 

The new funding will enable HungryPanda to meet the growing demand for Asian food and groceries and explore new opportunities to serve a broader range of minority ethnic communities, particularly in North America.

Founded in 2017, HungryPanda has been in operation in over 80 cities across 10 countries, serving more than 6.5 million users in partnership with over 100,000 merchants. 

In 2021, the company raised $130m in Series D to expand into new markets and explore mergers and acquisitions. 

To date, HungryPanda has raised over $275m in funding and has maintained an annual growth rate of over 30%.