Xiongmao Waimai Completes $55 Million D+ Round Financing, Anticipates Annual Revenue to Exceed $1 Billion This Year

HungryPanda recently completed a $55 million Series D+ funding round, led by Mars Growth Capital and Liquidity Group. The funds will be used to expand into overseas markets and serve Asian and minority communities.

Founded in Nottingham, UK in 2017, HungryPanda specializes in Chinese food delivery and fresh produce distribution. It covers over 80 cities in 10 countries, with over 100,000 registered merchants, 80,000 delivery riders, and 6.5 million global users.

The platform employs crowdsourced delivery and shares rider resources with Uber Eats. It has developed an intelligent dispatch system for flexible order allocation.

Recognizing the immature delivery services for overseas Chinese restaurants, HungryPanda provides packaging materials compliant with local regulations to enhance service quality.

In 2022, it launched fresh produce delivery services, with central warehouses and front-store facilities in the UK, offering delivery within three hours.

HungryPanda has expanded to 10 countries, with GMV growth in North America exceeding 55%. It is expected to surpass $1 billion in annual revenue this year.

The platform offers multiple language versions to serve different ethnic groups. It plans to cover more minority communities, penetrate second and third-tier cities, and expand its B2B fresh ingredient supply.

The founding team consists of UK alumni with entrepreneurial experience. The brand initially started as a campus incubation project.