HungryPanda Secures $55M Funding to Expand Asian Food Delivery Globally
The Rise of Diaspora-Focused Food Delivery Apps
Startups catering to the culinary needs of the Asian diaspora are proving to be lucrative ventures. Leading this charge is HungryPanda, a London-based food delivery platform specializing in authentic Asian cuisine for expats and international communities. The company recently announced a $55 million funding round, bringing its post-money valuation to approximately $500 million.
Strategic Growth Plans
HungryPanda will allocate the fresh capital toward:
- Expanding its core food delivery operations
- Venturing into grocery delivery services
- Enhancing technology with AI and machine learning
- Pursuing strategic acquisitions
Since its 2017 founding, HungryPanda has grown into the largest Asian-focused food delivery platform outside Asia, competing with rivals like Fantuan (Vancouver) and FreshGoGo (New York). The company has aggressively expanded through acquisitions, including EASI in Australia and BUY@HOME in New Zealand.
By the Numbers: HungryPanda’s Market Dominance
- 6.5 million registered users
- 100,000+ merchant partners
- 80,000+ delivery riders
- Operational in 80 cities across 10 countries
- Targeting $1 billion in gross transaction volume for 2024
- Profitable while maintaining rapid growth
“Reaching profitability while maintaining significant growth demonstrates the strength of our business model and our long-term vision,” said Eric Liu, HungryPanda’s Founder and CEO.
The Funding Details
The latest round was led by Mars Growth Capital (a joint venture between Liquidity Group and MUFG), with participation from existing investors including Perwyn, Kinnevik, 83North, and Felix Capital. The company describes the financing as a “refinancing and fundraise,” suggesting a mix of primary and secondary capital.
From Student Solution to Global Platform
Liu conceived HungryPanda while studying at the University of Nottingham, frustrated by the challenges of ordering authentic Chinese food. The app initially solved key pain points:
- Language barriers with English-translated menus
- Westernized versions of traditional dishes
- Limited access to authentic menu items
What began as a solution for Chinese students has evolved into a comprehensive platform serving:
- First-generation Asian immigrants
- Later-generation diaspora members
- Non-Asian food enthusiasts seeking authentic experiences
Cultural Bridge Through Cuisine
“Thanks to our combined Eastern and Western cultural background, we effectively connect Asian food merchants with expats’ needs,” Liu explained. The platform now supports multiple languages including English, Chinese, French, Japanese, and Korean.
The Bigger Picture: Asian Diaspora Dining Trends
With over 50 million first-generation Chinese immigrants worldwide (excluding subsequent generations and other Asian groups), the market potential is enormous. HungryPanda’s success reflects broader trends:
- Growing demand for authentic ethnic cuisine
- Social media driving food tourism (e.g., Dusseldorf’s popularity among Chinese travelers)
- Consolidation in the food delivery sector
As geopolitical narratives often dominate China-West relations, platforms like HungryPanda demonstrate how cultural exchange continues through shared culinary experiences.
Article updated with additional valuation details and CEO commentary.
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