HungryPanda Secures $70M to Expand Niche Food Delivery for Overseas Chinese
The Rise of Culturally-Tailored Food Delivery
In an era where food delivery apps have become essential, HungryPanda has carved out a unique niche. The Mandarin-language platform, designed specifically for Chinese consumers living abroad, recently raised $70 million in Series C funding to fuel its global expansion.
Key Investment Details
- Lead Investor: Kinnevik
- Participating Firms: 83North, Felix Capital, Piton Capital, Burda Principal Investment
- Total Funding to Date: $90 million (all raised in 2020)
- Current Markets: 47 cities across Australia, Canada, France, New Zealand, the UK, and the U.S.
Targeting a Growing Demographic
With approximately 50 million Chinese nationals living outside mainland China, Taiwan, Hong Kong, and Macau, HungryPanda addresses a significant market gap. The app focuses exclusively on:
- Authentic Chinese restaurant meals
- Asian grocery delivery
- Mandarin-language interface
“Chinese communities abroad crave traditional flavors and familiar ordering experiences,” explains CEO Eric Liu, who founded the company while studying computer science at the University of Nottingham.
Pandemic-Driven Growth and Profitability
The COVID-19 crisis accelerated food delivery adoption globally, with U.S. usage increasing over 25% according to eMarketer. HungryPanda has capitalized on this trend while maintaining strong unit economics:
- Already profitable in early markets (UK and NYC)
- 30x growth over three years
- Efficient delivery model focused on student communities
Unique Business Advantages
- Group Ordering: Dormitory deliveries enable “family-style” meals
- Cultural Understanding: Menus feature authentic dish names and descriptions
- Natural Expansion: Grocery delivery complements existing restaurant network
From Student Project to Global Venture
What began as Liu’s side project to solve his own dining challenges has transformed into an international business. The founder deferred graduate studies at LSE indefinitely to focus on scaling HungryPanda, which now operates with:
- 47 cities served (up from 31 in February 2020)
- Plans for continued global expansion
- Potential to evolve into a “super app” model
“This isn’t just business—it’s serving a community need,” Liu reflects from HungryPanda’s New York headquarters. As the company grows, it remains committed to its core mission: delivering authentic Chinese culinary experiences to diaspora communities worldwide.
