This latest funding was led by Mars Growth Capital, a joint venture between Liquidity Group and MUFG, with continued backing from existing investors, including Perwyn, Kinnevik, 83North, and Felix. The fresh capital will support HungryPanda’s efforts to strengthen its position in the Asian food delivery market and expand its services to other minority ethnic communities, particularly in North America.

Since its founding in 2017, HungryPanda has grown into a key player in the Asian food delivery sector, operating in more than 80 cities across 10 countries and serving over 6.5 million users in collaboration with 100,000+ merchants. In 2021, the company raised $130 million in its Series D round to fuel market expansion and explore strategic acquisitions. Having raised more than $275 million to date, HungryPanda entered a new phase of growth, achieving profitability in 2024 while maintaining an impressive annual growth rate of over 30%, a notable feat in the highly competitive food delivery industry.

"Reaching profitability while maintaining significant growth demonstrates the strength of our business model and our long-term vision. This success is a testament to the dedication and hard work of our entire team," said Eric Liu, Founder and CEO of HungryPanda. "HungryPanda is more than just a delivery platform – we see ourselves as an ambassador of Asian cuisine. With this new funding, we are poised to accelerate our expansion into North America, elevate our services, and continue to champion the richness of Asian food culture on a global scale. We are especially grateful for the support from Mars Growth Capital and Liquidity Group, whose partnership will help us achieve our ambitious goals."

"I am proud of how HungryPanda has positioned itself uniquely within the food delivery sector by focusing on the specific needs of Asian communities globally," said David Buttress, Chairman of the Board at HungryPanda. "Our targeted approach and deep understanding of this market have been key drivers of our growth and success. "As we continue to scale, I am confident we will further solidify our leadership in this space and capitalize on new opportunities."

The new funding will enable HungryPanda to continue meeting the growing demand for Asian food and groceries, while upholding the high service standards its customers expect. In addition, HungryPanda remains committed to supporting its delivery riders by setting standards for safety and offering sustainable gig work opportunities.

"HungryPanda has been able to carve out an impressive niche in the highly-competitive food delivery vertical, and as a result, has experienced double-digit growth while continuing to strengthen its position as a market leader," said Paul Brodie, Managing Director, Europe at Mars Growth Capital and Liquidity Group. "We are excited to be part of HungryPanda's next chapter along with its existing investors."