Kinnevik AB (publ) (“Kinnevik”) right now introduced that it’s investing USD 35m in a USD 70m funding spherical in HungryPanda, the worldwide chief in on-line Asian meals supply.
HungryPanda gives a specialist on-line ordering platform for Chinese language clients dwelling overseas, with a tailor-made consumer expertise, together with language and fee choices, to assist overcome cultural boundaries.
HungryPanda, headquartered in London, was launched in 2017 by Founder Eric Liu, a pc science graduate on the College of Nottingham who needed to repair an issue he skilled first-hand – getting maintain of genuine Chinese language meals on-demand away from residence. The enterprise has rapidly grown 30x in three years with a 500-person robust crew working in 6 nations the world over.
The corporate’s community-focused method permits it to create a pretty sub-segment throughout the total on-line meals supply market. The enterprise is already worthwhile within the UK and different main cities corresponding to New York. The funding additionally furthers Kinnevik’s meals technique and enhances our current investments by including publicity to the out-of-home house, significantly widespread with youthful customers, along with our current investments in on-line grocers targeted on at-home cooking.
Kinnevik is becoming a member of earlier buyers 83North and Felix Capital, who between them have expertise of constructing sector-leading platforms together with Wolt, Deliveroo and Simply Eat. Different buyers becoming a member of this spherical embrace Piton Capital, VNV International and Burda Principal Funding.
Kinnevik CEO Georgi Ganev commented: “As digital adoption advances, we see a possibility for community-oriented marketplaces which have a deeper understanding of focused audiences and a extra tailor-made product. We’ve got been impressed by how Eric and crew have leveraged their first-hand consumer empathy to quickly scale HungryPanda whereas remaining capital environment friendly. We look ahead to serving to the crew broaden throughout merchandise, areas and audiences.”
For additional info, go to www.kinnevik.com or contact:
Torun Litzén, Director Investor Relations
Cellphone +46 (zero)70 762 00 50
Kinnevik is an trade targeted funding firm with an entrepreneurial spirit. Our goal is to make individuals’s lives higher by offering extra and better option. In partnership with gifted founders and administration groups we construct challenger companies that use disruptive know-how to deal with materials, on a regular basis shopper wants. As lively homeowners, we consider in delivering each shareholder and social worth by constructing long-term sustainable companies that contribute positively to society. We spend money on Europe, with a give attention to the Nordics, the US, and selectively in different markets. Kinnevik was based in 1936 by the Stenbeck, Klingspor and von Horn households. Kinnevik’s shares are listed on Nasdaq Stockholm’s listing for big cap corporations beneath the ticker codes KINV A and KINV B.