Rocket Internet-backed Foodpanda secures $8M from iMena Holdings
Hellofood.com, a Rocket Internet-backed online food ordering platform, popularly known as Foodpanda.in in India, has received $8 million in funding from iMena Holdings, an online consumer business group operating in the Middle East and North Africa (MENA) region. The funding will enable Hellofood, which is already present in Saudi Arabia, to expand its services across various other countries in the Middle East.
Founded in April 2012, Hellofood.com features location-specific listing of restaurants on its site. Users can check out menus, along with special offers, post which they can order and get it delivered to their homes. One can also search for restaurants according to cuisine, and/or by other parameters such as vegetarian/non-veg, healthy food, etc. The company helps restaurants increase sales through online and mobile platforms and also provides them with technology and analytics.
The firm is focused on emerging markets and is offering online food ordering services in 28 countries in five continents. These include Indonesia, Malaysia, Pakistan, Singapore, Taiwan, Thailand, Vietnam, Ghana, Ivory Coast, Kenya, Morocco, Senegal, Nigeria, Russia, Argentina, Brazil, Chile, Colombia, Mexico, Peru, Hungary, Venezuela, Poland, Ukraine, Romania, Czech Republic, India and Saudi Arabia.
In May this year, the company raised over $20 million from a group of investors that included Investment AB Kinnevik, a Sweden-based investment company and Phenomen Ventures, a Russia-based venture capital firm. Existing investor Rocket Internet also invested in the round. Around the same time, the company also appointed Rohit Chadda as its second MD in India. Chadda will serve as the product head for the Asia region, while Amit Kohli, part of the original team, will continue as MD and focus on sales and marketing.
iMena invests in leading consumer internet companies in categories poised for growth in the MENA region. It also builds online businesses based on successful and proven business models in the developed and emerging markets. iMena partners with global and regional market leaders across diversified sectors, including telecoms, traditional retailers, and media organisations to help build and grow their online businesses.
(Edited by Joby Puthuparampil Johnson)