Kinnevik leads $70m series-C for HungryPanda

Swedish publicly listed growth investor Kinnevik backed the round alongside new investors Piton Capital, BurdaPrincipal Investments and VNV Global, as well as previous investors 83North and Felix Capital.

Felix is currently deploying capital from Felix Capital Fund II, which closed on $150m in July 2017 and invests $100,000-10m per deal.

83North is currently investing from its fifth-generation fund, which closed on $300m in October 2019 and makes equity cheques of $4-8m in series-A rounds.

The fresh capital will be used to invest in growing HungryPanda's market share in the US, Canada and Australia. It will also be invested in technology and talent, with plans to double the team to 1,000.

Previous funding
In February 2020, 83North and Felix led a $20m round for online food delivery platform HungryPanda.

Company
Founded in 2017, HungryPanda is an online food delivery platform for Asian restaurants that now operates in 47 cities. It employs more than 500 people and is headquartered in London.

People
Kinnevik – Georgi Ganev (CEO).
83North – Laurel Bowden (partner).
Felix Capital – Frederic Court (managing partner); Antoine Nussenbaum (partner).
HungryPanda – Eric Liu (CEO).

Advisers
Company - Arma Partners (corporate finance).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• Venture
• United Kingdom
• Felix Capital