Foodpanda, the food delivery startup, has raised $110 million from Rocket Internet along with new and existing investors. The funding will go towards scaling up, improving product and technology and focusing on user experience. Since this is a mix of primary and secondary funding, the actual funding raised is ~ $40 million along with the purchase of existing shares and through a share dividend. This puts Rocket Internet’s stake at 52% from the previous 50%. We mailed the company for further details on the development but the company declined to comment. Last year, Foodpanda had raised two rounds of investment - $60 million from a group of investors including Rocket Internet AG & Falcon Edge Capital in August and $20 million from a group of investors including Phenomen Ventures in February. The company had said then that it plans to use the funds to expand…
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