From their work with purpose-led start-up teams, BurdaPrincipal Investments have made some observations where social purpose provides start-ups with distinctive competitive advantages.
BurdaPrincipal Investments (BPI), the growth capital arm of media and tech company Hubert Burda Media, has today announced an investment in Hungry Panda, the leading specialised online Asian food delivery market. BPI participated in the $70 Million funding round (Series C) led by Kinnevik, alongside previous investors 83North and Felix Capital. Hungry Panda will use the fresh capital to further scale its team and presence globally.
“This has been an exceptional year of growth for Hungry Panda. We can launch in new cities in just two weeks and have established ourselves as the market leader due to our laser focus on developing the best service for our customers and providing high-quality execution.”
Eric Liu, CEO and Founder of Hungry Panda
“Hungry Panda has built an outstanding, fast-growing platform addressing consumers’ demand for authentic cuisine and providing merchants with access to these valuable consumers. We are excited to support Eric and his team and join the other investors on this journey!”
Christian Teichmann, Managing Director of BurdaPrincipal Investments
Hungry Panda provides a specialist online ordering platform for Chinese customers living abroad. The user experience is tailored and helps overcome barriers such as culture and language. For Asian restaurants, it makes finding the right customers easier and provides an efficient delivery service.
Natalie Schmitke, Principal at BurdaPrincipal Investments in London: “We have known Eric and his team for over a year. We are delighted to invest in such a specialised marketplace focusing on an attractive niche where customers and merchants truly benefit from a tailored solution. We have been very impressed with Hungry Panda’s ability to grow globally and capital efficiently while localizing and working closely with various partners in their ecosystem.”
In 2020 Hungry Panda continued its fast expansion and is now operating in 47 cities across Australia, Canada, France, New Zealand, the UK, and the US. Supported by strong unit economics, the business is already profitable in the UK and other major cities such as New York with a clear path to profitability in more locations.
Hungry Panda was launched in 2017 by Founder Eric Liu, a computer science graduate at the University of Nottingham who wanted to fix a problem he experienced first-hand: Getting hold of authentic Chinese food on-demand away from home. The business has quickly grown 30x in three years with a 500-person strong team operating across the world.
For more information go to https://www.hungrypanda.co/
BurdaPrincipal Investments (BPI) is the international growth capital arm of media and tech company Hubert Burda Media. BPI supports fast-growing digital companies in the technology and media industry with long-term growth capital. BPI’s investment portfolio comprises successful consumer internet companies in Europe, the USA, and Asia such as Etsy, Skillshare, Vinted, Bloom & Wild, Notonthehighstreet, and Zilingo. BPI is committed to advocating and promoting diversity and inclusion within BPI and its portfolio companies.
More information: https://www.burdaprincipalinvestments.com/